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The pound (Afrikaans: pond; symbol £, £SA [1] for distinction) was the currency of the Union of South Africa from the formation of the country as a British Dominion in 1910. It was replaced by the rand in 1961 when South Africa decimalised.
South African pound Reason: decimalisation Ratio: 2 rand = 1 South African pound = 1 British pound: Currency of South Africa 1961 – Succeeded by: Current: Currency of South West Africa 1961 – 1990 Note: administered by/occupied by South Africa since 1915: Currency of Namibia 1990 – 1993 Legal tender in Namibia 1993 – Succeeded by ...
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African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange.This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they invaded.
South Africa: South African rand: R ZAR Cent: 100 South Ossetia: Russian ruble ₽ RUB Kopeck: 100 South Sudan: South Sudanese pound: SS£ SSP Piaster: 100 Spain: Euro € EUR Cent: 100 Sri Lanka: Sri Lankan rupee: Re or Rs (pl.) LKR Cent: 100 Sudan: Sudanese pound: LS SDG Piastre: 100 Suriname: Surinamese dollar $ SRD Cent: 100 Sweden: Swedish ...
Alderney pound (only coins) [1] Pound sterling: 1 ... Central African: Euro: 655.957 CFA franc, West African: Euro: ... South African rand: 1 Macanese pataca: Hong ...
This was a change from the system used in the earlier wave of decimalisations in Australia, New Zealand, Rhodesia and South Africa, in which the pound was replaced with a new major currency called either the "dollar" or the "rand". The British shilling was replaced by a 5 new pence coin worth one-twentieth of a pound.
The rand was introduced on 14 February 1961. A Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings and pence, submitting its recommendation on 8 August 1958. [9] It replaced the South African pound as legal tender, at the rate of 2 rand = 1 pound or 10 shillings to the rand.