Lesotho is a high-altitude kingdom within the border of South Africa. It's crisscrossed by a network of mountain ranges and rivers, including the Thabana Ntlenyana. The Lesotho loti (LSL) is the official money of the Kingdom of Lesotho. A loti can be subdivided into 100 units known as lisente. The coins are issued in denominations of 1, 2, 5, 10, 20, and 50 lisente, and 1, 2, and 5 loti, while the banknotes are issued in denominations of 10, 20, 50, 100, and 200 loti.
In 1966, the Lesotho loti was first introduced although as a non-circulating currency. It instead served as a numeraire to price things like the debt of the government; however, other currencies were used in exchange. In 1980, the first issued Loti coins went into circulation. It is pegged to the South African rand (ZAR) at par by South Africa's Common Monetary Area. Even when the loti was meant to replace the South African rand, the latter currency is still presently legal tender in the Kingdom of Lesotho. The original loti banknotes that came in several different sizes were very colorful and had a variety of designs. Nonetheless, the notes were often counterfeited, which prompted the release of the banknotes' new issue in 2011.
In 1980, banknotes dated 1979 in denominations of 2, 5, and 10 maloti, carrying the name Lesotho Monetary Authority were issued. In 1981, on the new issues and the new 20 and 50 maloti banknotes, it was replaced with Central Bank of Lesotho. Then, 100 and 200 maloti banknotes were introduced in 1994. The 10, 20, 50, and 100 maloti banknotes were redesigned in 2010, while the 200 maloti note remains bearing its 1994 design.
In 1966, several lisente and maloti pattern coins were produced in denominations of 2, 4, 10, and 20 maloti, and 5, 10, 20, and 50 lisente. In 1980, coins dated 1979 were circulated, with denominations of 1, 2, 5, 10, 25, and 50 lisente, as well as 1 loti. Then, 2 and 5 maloti coins were put into circulation in 1996, succeeded by 20 maloti in 1998. The only coin not found in circulation now is the 20 loti coin. In addition, there have been many commemorative coins produced in denominations of 1, 5, 10, 15, 20, 25, 30, 50, 100, 200, 250, and 500 maloti.