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.
Subunit: Cent - 1/100
Coins: 10c, 20c, 50c, R1, R2, R5
Banknotes: R10, R20, R50, R100, R200
The most popular exchange for this currency is South African Rand to US Dollars.
Posted in Currency Wiki on Jun 27 2017