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The South African rand, or simply the rand, (sign: R; code: ZAR [a]) is the official currency of South Africa. It is subdivided into 100 cents (sign: "c"), and a comma separates the rand and cents. [ 1 ]
The rand was introduced in the then Union of South Africa on 14 February 1961, shortly before the establishment of the Republic on 31 May 1961. 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 Krugerrand (/ ˈ k r uː ɡ ə r æ n d /; [1] Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint.
South African-made version of the Modular Integrated Communications Helmet (MICH) modified with a helmet accessory rail mount kit. It is the standard issue combat helmet of the South African Special Forces replacing the M83 Kevlar. These helmets are also used by some army units deployed to Mozambique and the Democratic Republic of Congo. Camouflage
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.
The South African Mint is responsible for minting all coins of the South African rand on behalf of its owner, the South African Reserve Bank.Located in Centurion, Gauteng near South Africa's administrative capital Pretoria, the mint manufactures coins and planchets for both domestic and international markets.
The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union.The Southern African Customs Union (SACU) includes all CMA members in addition to Botswana, which replaced the rand with the pula in 1976 as a means of establishing an independent monetary policy.
Exchange controls such as these were imposed by the South African government to restrict the outflow of capital from the country. The South African financial rand was the most visible part of a system of capital controls. Although the financial rand was abolished in March 1995, some capital controls remain in place.