Economy of Lesotho maloti (M) per US$1 – 7.32 (2010), 6.10948 (1999), 3.62709 (1995); note - the Basotho loti is at par with the South African rand Economy of Lesotho Lesotho is geographically surrounded by South Africa and economically integrated with it as well. The economy of Lesotho is based on agriculture, livestock, manufacturing, mining, and depends heavily on inflows of workers’ remittances and receipts from the Southern African Customs Union (SACU). The majority of households subsist on farming. The formal sector employment consist of mainly the female workers in the apparel sector, the male migrant labor, primarily miners in South Africa for
Lesotho–Russia relations the most prominent of whom is Monyane Moleleki, the Basotho foreign minister, who graduated from Moscow State University. Since 1996, the Russian government provides to Lesotho, scholarships for three Basotho citizens to obtain basic higher education, and one scholarship for a Basotho citizen to study in graduate school. Lesotho–Russia relations Lesotho–Russia relations () are the bilateral relations between Russia and Lesotho. The Soviet Union and the Kingdom of Lesotho established diplomatic relations on 1 February 1980. The Soviet Ambassador to Mozambique was initially concurrently accredited to represent the Soviet Union's interests in Lesotho. Yuri Sepelev was appointed as the first