How Much Cash Can You Carry Legally in Namibia?
What is the full meaning of cash?
Cash is legal tender—currency or coins—that can be used to exchange goods, debt, or services. Sometimes it also includes the value of assets that can be easily converted into cash immediately, as reported by a company.
What does cash mean in accounting?
In finance and accounting, cash refers to money (currency) that is readily available for use. It may be kept in physical form, digital form, or invested in a short-term money market product. In economics, cash refers only to money that is in the physical form
Is forex trading legal in Namibia?
Dealings in foreign currency must only be done at Authorized Dealers i.e. Commercial Banks and Bureau De Changes. In terms of the Exchange Control Regulation 2(1), it is illegal for unauthorized person to buy or sell foreign currency in Namibia.
Can you use rands in Namibia?
The Namibian Dollar is tied to the South African Rand, which is also legal tender in Namibia.
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What is the best currency to use in Namibia?
If you visiting Namibia only, we recommend you buy South African Rand (ZAR) – the Namibian Dollar is inter-changeable with the Rand in Namibia only and is not accepted at banks outside the country.
How much cash can you carry legally in Namibia?
The import and export of local currency are limited to N$50,000. The import of foreign currency is unlimited, provided sums are declared on arrival. Export of foreign currency is up to the amount imported and declared.