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Encyclopedia > South African rand
South African rand
Suid-Afrikaanse rand (Afrikaans)
50 rand New 5 rand (2004)
50 rand New 5 rand (2004)
ISO 4217 Code ZAR
User(s) Common Monetary Area: Lesotho, Namibia, South Africa, and Swaziland
Inflation 5.8% (South Africa only)
Source South African Reserve Bank, December 2006
Method CPI
Pegged by Lesotho loti, Swazi lilangeni and Namibian dollar at par
Subunit
1/100 cent
Symbol R
cent c
Coins
Freq. used 5c, 10c, 20c, 50c, R1, R2, R5
Rarely used 1c, 2c
Banknotes R10, R20, R50, R100, R200
Central bank South African Reserve Bank
Website www.reservebank.co.za

The rand is the currency of South Africa. It takes its name from the Witwatersrand (White-waters-ridge in English), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c". The ISO 4217 code is ZAR. Image File history File linksMetadata 50-za-rand. ... Image File history File linksMetadata 5-za-rand. ... Allied to the Southern African Customs Union (SACU) is the Common Monetary Area (CMA) which links South Africa, Lesotho and Swaziland into a Currency union. ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... The Loti (pl. ... The lilangeni (plural: emalangeni) is the national currency of Swaziland and is subdivided into 100 cents. ... The Namibian dollar (abbreviated N$ or NAD) is the national currency of Namibia, adopted in 1993. ... ¢ c A United States cent, or 1¢ or a penny In currency, the cent is a monetary unit that equals 1/100 of various countries basic monetary units. ... ¢ c A United States cent, or 1¢ or a penny In currency, the cent is a monetary unit that equals 1/100 of various countries basic monetary units. ... The coins of the South African rand are part of the physical form of South Africas currency, the South African rand. ... The South African Reserve Bank is the central bank of South Africa. ... Anthem Transvaalse Volkslied Location of the Transvaal in pre-1994 South Afica Capital Pretoria Language(s) Dutch, English, Afrikaans Religion Dutch Reformed Church Government Republic President  - 1857-1863 Marthinus Wessel Pretorius  - 1883-1902 Paul Kruger  - 1900-1902 Schalk Willem Burger (acting) History  - Established June 27, 1857  - British annexation 1877-1881... Witwatersrand is a low mountain range which runs through Gauteng in South Africa. ... The English language is a West Germanic language that originates in England. ... This article does not cite any references or sources. ... Look up centi- in Wiktionary, the free dictionary. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...


The rand is the currency of the Common Monetary Area between South Africa, Namibia, Swaziland and Lesotho. Allied to the Southern African Customs Union (SACU) is the Common Monetary Area (CMA) which links South Africa, Lesotho and Swaziland into a Currency union. ...

Contents

History

The rand was introduced in 1961, coinciding with the establishment of the Republic of South Africa. It replaced the South African pound as legal tender, at the rate of 2 rand = 1 pound or 10 shillings to the rand. Year 1961 (MCMLXI) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... The pound was the currency of South Africa between 1825 and 1961. ... This article is about coinage. ...


Coins

Main article: Coins of the South African rand
The old and new R5 coins
The old and new R5 coins

Coins were introduced in 1961 in denominations of ½, 1, 2½, 5, 10, 20 and 50 cents. In 1965, 2 cents coins replaced the 2½ cents. The ½ cent coin was last struck for circulation in 1973. 1 rand coins were introduced in 1977, followed by 2 and 5 rand pieces in 1989 and 1990, respectively. The 1 and 2 cents coins were discontinued in April 2002, primarily due to inflation having devalued them. All prices are now rounded to the nearest 5 cents. The coins of the South African rand are part of the physical form of South Africas currency, the South African rand. ... Image File history File linksMetadata Download high resolution version (814x409, 79 KB) Photo of old and new R5 coins of South Africa. ... Image File history File linksMetadata Download high resolution version (814x409, 79 KB) Photo of old and new R5 coins of South Africa. ...


In an effort to curb counterfeiting, a new R5 coin was released in August 2004 as well as new banknotes in February 2005. Security features introduced on the coin include a bi-metal design (similar to the €1 and €2 coins, the British £2 coin and the Canadian $2 coin), a specially-serrated security groove along the rim and micro-lettering. The new notes also feature a number of new security features. February 2005 : ← - January - February - March - April - May - June - July - August - September - October - November - December - → Pope John Paul II is taken to a hospital suffering from a serious case of influenza. ... 1 euro coins are made of two alloys: the inner part of cupronickel, the outer part of nickel brass. ... // 2 euro coins are made of an inner coin and an outer ring. ... This article discusses the the commemorative British Two Pounds coins issued issued between 1986 and 1996, and the regular bimetallic circulation coins first issued in 1998 (dated 1997). ... Toonie (sometimes spelled twoonie or twonie) is the nickname Canadians collectively gave their two-dollar coin; it is a portmanteau word combining the number two with the name of the loonie, Canadas one-dollar coin. ...


Banknotes

New rand notes series
New rand notes series

The first series of rand banknotes was introduced in 1961 in denominations of 1, 2, 10 and 20 rand, with similar designs and colours to the preceding pound notes to ease the transition. They bore the image of Jan van Riebeeck, the first V.O.C. administrator of Cape Town. Like the last pound notes, they came in two variants, one with English written first and the other with Afrikaans written first. This practice was continued in the 1966 series which included the first 5 rand notes but did not include the 20 rand denomination. Rand currency examples - South Africa File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Rand currency examples - South Africa File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Arrival of Jan van Riebeeck in Cape Town painted by Charles Davidson Bell Johan Anthoniszoon Jan van Riebeeck (21 April 1619–18 January 1677), was a Dutch colonial administrator and founder of Cape Town. ... This article is about the trading company. ... Nickname: Motto: Spes Bona (Latin for Good Hope) Location of the City of Cape Town in Western Cape Province Coordinates: , Country Province Municipality City of Cape Town Metropolitan Municipality Founded 1652 Government [1]  - Type City council  - Mayor Helen Zille  - City manager Achmat Ebrahim Area  - City 2,499 km²  (964. ... The pound was the currency of South Africa between 1825 and 1961. ... The English language is a West Germanic language that originates in England. ... Look up Wiktionary:Swadesh lists for Afrikaans and Dutch in Wiktionary, the free dictionary. ...


The 1978 series began with denominations of 2, 5 and 10 rand, with 20 and 50 rand introduced in 1984. This series saw a major design change. In addition, the series has only one variant for each denomination of note. Afrikaans was the first language on the 2, 10 and 50 rand, while English was the first language on 5 and 20 rand. The notes still bore the image of Jan van Riebeeck. Arrival of Jan van Riebeeck in Cape Town painted by Charles Davidson Bell Johan Anthoniszoon Jan van Riebeeck (21 April 1619–18 January 1677), was a Dutch colonial administrator and founder of Cape Town. ...


In the 1990s, the notes were redesigned with images of the Big Five wildlife species. With the 2 and 5 rand coins replacing notes, notes were introduced in 1994 for 100 and 200 rand. For the band, see 1990s (band). ... Lion (Panthera leo) African elephant (Loxodonta africana) African or Cape Buffalo (Syncerus caffer) Leopard (Panthera pardus) Black Rhinoceros (Ceratotherium simum) The phrase Big Five game was coined by big-game hunters and refers to the five large mammals that were sought in Africa. ...


The 2005 series has the same principal design, but with additional security features such as colour shifting ink on the 50 rand and higher and the EURion constellation. The obverses of all denominations are printed in English, while two other languages are printed on the reverses, making all eleven official languages of South Africa available. The small circles or dots constituting the EURion constellation are clearly visible on the centre-left of 10 euro banknotes. ... Geographical distribution of South African languages. ...


Brief exchange rate history

A rand was worth more than a U.S. dollar from the time of its inception in 1961 until 1982, when mounting political pressure combined with sanctions placed against the country because of apartheid started to erode its value. The currency broke above parity with the dollar for the first time in March 1982, and continued to trade between R1–R1.30 to the dollar until June 1984, when depreciation of the currency gained momentum. By February of 1985, it was trading at over R2 per dollar, and in July that year all foreign exchange trading was suspended for 3 days to try and stop the devaluation. The United States dollar is the official currency of the United States. ... Year 1961 (MCMLXI) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... Year 1982 (MCMLXXXII) was a common year starting on Friday (link displays the 1982 Gregorian calendar). ... A segregated beach in South Africa, 1982. ... Year 1982 (MCMLXXXII) was a common year starting on Friday (link displays the 1982 Gregorian calendar). ... This article is about the year. ... Year 1985 (MCMLXXXV) was a common year starting on Tuesday (link displays 1985 Gregorian calendar). ... The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. ...


By the time that State President PW Botha made his infamous Rubicon speech on 15 August 1985, it had weakened to R2.40 per dollar. The currency recovered somewhat between 198688, trading near the R2 level most of the time and even breaking beneath it sporadically. The recovery was short-lived however, and by the end of 1989 the rand was trading at levels of more than R2.50 per dollar. From 1961 to 1994, South Africas head of state was called the State President or Staatspresident in Afrikaans. ... P.W. Botha Pieter Willem Botha, (born January 12, 1916) commonly known as P.W. and as die groot krokodil (the great crocodile) was Prime Minister of South Africa from 1978 to 1984 and State President of South Africa from 1984 to 1989. ... Presumed course of the Rubicon For other uses, see Rubicon (disambiguation). ... is the 227th day of the year (228th in leap years) in the Gregorian calendar. ... Year 1986 (MCMLXXXVI) was a common year starting on Wednesday (link displays 1986 Gregorian calendar). ... Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ...


As it became clear in the early 1990s that the country was destined for black majority rule and one reform after the other was announced, uncertainty about the future of the country hastened the depreciation until the level of R3 to the dollar was breached in November 1992. A host of local and international events influenced the currency after that, most notably the 1994 democratic election which saw it weaken to over R3.60 to the dollar, the election of Tito Mboweni as the new governor of the South African Reserve Bank, and the inauguration of President Thabo Mbeki in 1999 which saw it quickly slide to over R6 to the dollar. The controversial land reform program that was kicked off in Zimbabwe, followed by the September 11, 2001 attacks, propelled it to its weakest historical level of R13.84 to the dollar in December 2001. For the band, see 1990s (band). ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... 1994 General Election results, National Assembly African National Congress (ANC) 12,237,655 62. ... Tito Mboweni is the eighth Governor of the South African Reserve Bank. ... The South African Reserve Bank is the central bank of South Africa. ... Thabo Mvuyelwa Mbeki (born June 18, 1942) is the current President of the Republic of South Africa. ... This article is about the year. ... A sequential look at United Flight 175 crashing into the south tower of the World Trade Center The September 11, 2001 attacks (often referred to as 9/11—pronounced nine eleven or nine one one) consisted of a series of coordinated terrorist[1] suicide attacks upon the United States, predominantly... 2001 : January - February - March - April - May - June - July - August - September - October - November - December Events: December 2 - Enron files for Chapter 11 bankruptcy protection five days after Dynegy canceled a US$8. ...


This sudden depreciation in 2001 led to a formal investigation, which in turn led to a dramatic recovery. By the end of 2002, the currency was trading at under R9 to the dollar again, and by the end of 2004 was trading at under R5.70 to the dollar. The currency softened somewhat in 2005, and was trading at around R6.35 to the dollar at the end of the year. At the start of 2006 however, the currency resumed its rally, and as of 19 January 2006 was trading at under R6 to the dollar once again. During 2006 and early 2007, the rand has gained slightly and now sits at about R7 to the dollar. Also see: 2002 (number). ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... January 19 is the 19th day of the year in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Current ZAR exchange rates
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See also

Witwatersrand is a low mountain range which runs through Gauteng in South Africa. ... This article does not cite any references or sources. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ...

References

  • Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1. 
  • Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues, Colin R. Bruce II and Neil Shafer (editors), 7th ed., Krause Publications. ISBN 0-87341-207-9. 

The Standard Catalog of World Coins is a series of numismatic catalogues that is commonly known as the Krause catalogues in the numismatic trade. ... The Standard Catalog of World Paper Money is a very well-known catalogue of banknotes that is published by Krause Publications in three volumes. ...

External links

Preceded by:
South African pound
Reason: decimalization
Ratio: 2 rand = 1 South African pound = 1 British pound
Currency of South Africa
1961
Succeeded by:
Current
Currency of South West Africa
19611990
Note: administered by/occupied by South Africa since 1915
Currency of Namibia
19901993
Legal tender in Namibia
1993
Succeeded by:
Namibian dollar
Reason: withdrawal from Common Monetary Area
Ratio: at par
Note: dollar introduced in 1993, with South African rand remaining legal tender
Currency of Basutoland
19611966
Currency of Lesotho
19661980
Legal tender in Lesotho
1980
Succeeded by:
Lesotho loti
Note: loti introuced in 1980, with South African rand remaining legal tender
Currency of Swaziland
19611974
Legal tender in Swaziland
19741986
Circulates in Swaziland
1986
Succeeded by:
Swazi lilangeni
Note: lilangeni introduced in 1974. South African rand continues to circulate unofficially
Currency of Bechuanaland Protectorate
19611966
Currency of Botswana
19661976
Succeeded by:
Botswana pula
Reason: creation of independent currency
Ratio: at par

  Results from FactBites:
 
South African rand - Wikipedia, the free encyclopedia (876 words)
The rand has the symbol R and is divided into 100 cents, symbol c, and is available in denominations of five notes (R10, R20, R50, R100 and R200) and seven coins (5c, 10c, 20c, 50c, R1, R2 and R5).
The rand is the currency of the Common Monetary Area between South Africa, Namibia, Swaziland and Lesotho.
A rand was worth more than a U.S. dollar from the time of its inception in 1961 until 1982, when mounting political pressure combined with sanctions placed against the country because of apartheid started to erode its value.
South African - Hutchinson encyclopedia article about South African (5654 words)
A headland on the South African coast near Cape Town, the Cape of Good Hope is situated at the point where warm currents from the Indian Ocean converge with cool waters from the Antarctic Ocean, and it is known for its stormy seas and weather.
In November 1993 the South African government and the African National Congress (ANC) agreed on an interim constitution, which was adopted by the Transitional Executive Council in December 1993 and took effect after the first multiracial elections in April 1994.
South Africa was invited to rejoin the Commonwealth in January 1994.
  More results at FactBites »

 
 

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