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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 ]
Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar).
The previous South African farthing coin (1 ⁄ 4 d) and half-a-crown (2 + 1 ⁄ 2 s) were not continued in decimal currency. In addition, two bullion coins with denominations of 1 rand and 2 rand were issued, replacing the gold half-pound and pound coins introduced in 1952.
The currency of the UK is the pound sterling, represented by the symbol £. The Bank of England is the central bank, responsible for issuing currency. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover the issue.
The image was designed by Coert Steynberg and was previously used on the reverse of the earlier South African five shillings (1947-51 and 1953-59) and 50 Cents (1961-64) coin. The name "South Africa" and the gold content are inscribed in both Afrikaans and English (as can be seen on the pictures of the coin).
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.
Pages in category "Currencies of South Africa" The following 15 pages are in this category, out of 15 total. ... Ora (currency) P. Pond (currency) Postal orders of ...
Before a unified South Africa, many authorities issued coins and banknotes in values equivalent to sterling. An old 10 pound banknote from the South African Republic The Transvaal Republic , the Boer state that in 1902 was to become Transvaal Colony , issued notes from 1867 to 1902 and coins from 1892 to 1902.