It is pegged to the South African rand on a 1:1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho.

The name derives from the Sesotho loti, "mountain," while sente is from English "cent".

In 1980, coins dated 1979 were introduced in denominations of 1 sente, 2, 5, 10, 25 and 50 lisente and 1 loti.

On 1 March 2011, at a celebration marking its 30th anniversary, the Central Bank of Lesotho launched a new series of banknotes dated 2010 aimed at fighting the spread of counterfeits.

[4] In 2021, the Central Bank of Lesotho issued a new series of loti banknotes that are similar to the 2010 series, but the note's size is reduced to incorporate updated security features, including tactile features for those with visual impairments and giving the notes an anti-bacterial and anti-viral varnish to protect the notes from surface soiling and preventing viral disease on the notes.