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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 ]
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
In 1993 Namibia issued its own currency, the Namibian dollar. In 2002 a new revenue-sharing formula was introduced in SACU, which included a development component. In 2003 Swaziland reauthorized the use of the rand as legal tender in the interest of facilitating exchange between these countries.
This template renders a South African currency value with a currency symbol, or optionally an ISO 4217 identifier (ZAR), linked to the South African rand article. {{ZAR|123.45}} produces R 123.45 (with a non-breaking space between the R and the value) {{ZAR}} produces R (simple currency article link)
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.
Currency ISO 4217 code Symbol or Abbrev. [2] Proportion of daily volume Change ... 1.1%: 0.2pp South African rand: ZAR: R: 1.1%: 1.0%: 0.1pp Brazilian real: BRL: R$ 1 ...
The financial rand system provided for two exchange rates for the rand — one for current account transactions and one for capital account transactions for non-residents. [4] Investments made in South Africa by non-residents could only be sold for financial rand, and limitations were placed on the convertibility of financial rand into foreign ...
The Ora (pronounced; symbol: ะค) [1] is the local currency of Orania, an Afrikaner town in South Africa first issued in April 2004. It is pegged at par with the South African rand . [ 1 ] The name, recalling that of the town where it circulates, derives from Latin aurum , meaning "gold". [ 2 ]