Currency of south africa

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The rand is the currency of legal tender in South Africa since 1961, year when it replaced the South African pound. It is divided into 100 cents. Origins and history The rand was introduced in South Africa in 1961, when the country became a Republic. From that moment on, and until 1982, the South African currency had a value higher than the dollar, but it started to decrease as a consequence of international pressure, along with the sanctions against the country provoked by the South African policy of the apartheid. Since that moment, the rand has suffered several fluctuations in the exchange rate according to political and economic movements occurred in the country. In 2012 the South African Reserve Bank created one series of banknotes with the face of Nelson Mandela in order to honour the importance of the role of the Nobel laureate for peace in the country. On the other hand, regarding financial institutions, the first bank established in the country was the Lombaard, in Cape Town, inaugurated on the 23rd April 1793. Later in that time, on the 30th June 1921, the South African Reserve Bank started operations and the country could have a national bank. The first banknotes were issued by this bank on the 19th April 1922. Current South African rand coins and banknotes Interesting facts: • Though the value of the rand has fluctuated greatly in the latest years, travelling trough the country is less expensive than in Western Europe or the USA. • As the 200 rand notes have be...

Currency of South Africa: South African rand, today's rate R The South African Rand is the currency used in the following 3 countries: South Africa, Lesotho, Namibia. The code of South African rand is ZAR. We use R as symbol of South African rand. The South African Rand is divided in 100 cents. ZAR is regulated by South African Reserve Bank. Did you know: • The most popular conversions of South African rand are • • • • • the South African rand was introduced in 14 Feb 1961 (62 years ago). • There are 6 coins for the South African rand ( 10 c , 20 c , 50 c , R1 , R2 and R5 ), • the South African rand has 5 banknotes ( R10 , R20 , R50 , R100 and R200 ) More information: The South-African Rand One might almost call them the "Big Six" from now on. The South-African banknotes pay tribute to the 5 greatest, species of mammal now respected and protected but once upon a time feared and hunted, together with the country's figurehead: Nelson Mandela, international icon of pardon and reconciliation. Madiba is visible on the front of all the banknotes while the back carries, in order of appearance, the rhinoceros, the elephant, the lion, the buffalo and the leopard. The South African banknotes are very brightly colored, just like the national flag. It is not without reason that South Africa is known as the Rainbow nation: its multiplicity of ethnic groups and languages make it a country rich in culture and tradition. The only problem is to find a way for them all to live together. On ...