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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. In 1825, an imperial order-in-council made sterling coinage legal tender in all the British colonies.
A Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings, and pence; it submitted its recommendations on 8 August 1958. [3] It replaced the South African pound as legal tender, at the rate of 2 rand to 1 pound, or 10 shillings to the rand.
Decimal currency was introduced in 1961, when the South African pound, previously based on the United Kingdom currency, was replaced by the rand (symbol R) at the rate of 2 rand to 1 pound, or 10 shillings to the rand. Thus the United Kingdom term "bob" for a shilling equates to 10 cents.
The rand replaced the pound with a decimal currency: 100 cents (100c) = 1 rand (R1), 1 rand being valued at 10 shillings and 1 cent at 1.2 pence. The coins bore the forward-facing portrait of Jan van Riebeeck on the obverse.
In 1923, South Africa began to issue its own coins, adopting coins that were identical in size and value to those used in Great Britain: 12 pence (12d) = 1 shilling (1s), and 20s = 1 pound (£1). On 14 February 1961, the Union of South Africa adopted a decimal currency, replacing the pound with the Rand.
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South African rand: R ZAR Cent: 100 Ethiopia: Ethiopian birr: Br ETB Santim: 100 Falkland Islands: Falkland Islands pound £ FKP Penny: 100 Sterling £ GBP Penny: 100 Faroe Islands: Danish krone: kr DKK Øre: 100 Faroese króna: kr (none) Oyra: 100 Fiji: Fijian dollar $ FJD Cent: 100 Finland: Euro € EUR Cent: 100 France: Euro € EUR Cent ...
South African rand: ZAR R South Africa: South Sudanese pound: SSP £ South Sudan: Sudanese pound: SDG LS or ج.س Sudan: Swazi lilangeni: SZL L (singular) E (plural) Eswatini: Tanzanian shilling: TZS TSh Tanzania: Tunisian dinar: TND DT (Latin) د.ت (Tunisian Arabic) Tunisia: Ugandan shilling: UGX USh Uganda: Zambian kwacha: ZMW K Zambia