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[12] In 2014, South Africa experienced its worst year against the US dollar since 2009, [13] and in March 2015, the rand traded at its worst since 2002. [13] At the time, Trading Economics released data that the rand "averaged R4.97 to the dollar between 1972–2015, reaching an all time high of R12.45 in December 2001 and a record low of R0.67 ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold or silver.
A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.The currency that is used as the reference is called the counter currency, quote currency, or currency [1] and the currency that is quoted in relation is called the base currency or transaction currency.
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.
Currency ISO 4217 code Symbol or Abbrev. [2]Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp Euro
An airline ticket showing the price with ISO 4217 code "EUR" (bottom left) and not with euro currency sign " € "ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units.
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.