ZAR – South African Rand

Sign – R / Code – ZAR

Long before our corporate currency exchange brokers were helping our clients with their South African Rand transfers, the Rand was creating its own rich history.

About the South African Rand

The Rand was introduced in 1961, replacing the South African Pound.

It was severely depreciated throughout the 1990s due to a controversial land reform programme and a number of new political appointments that were made following the end of Apartheid. These combined events caused the Rand to fall to its lowest point of R13.84 : $1 in December 2001.

The Rand is also used in Swaziland, Namibia, Lesotho and Zimbabwe due to their membership (bar Zimbabwe) in the Common Monetary Area group.

Denominations

Subunit: Cent – 1/100

Coins: 10c, 20c, 50c, R1, R2, R5

Banknotes: R10, R20, R50, R100, R200

Bank: South African Reserve Bank

The most popular exchange for this currency is South African Rand to US Dollars.