South African Rand (ZAR) Profile
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1.South African rand is pegged by Lesotho loti, Swazi lilangeni and Namibian dollar at par.
2.Plural of rand is rand.
South African rand users
The South African rand is the currency of South Africa (officially the Republic of South Africa) which locates at the southernmost of Africa. It is also widely accepted in Namibia, Lesotho, Swaziland and Zimbabwe.
South Africa South Africa was independent from the United Kingdom on May 31, 1910. is the only country in the world which has three capitals. The three capital cities are Cape Town (legislative capital, as the seat of Parliament)), Pretoria (the administrative capital, as the seat of the President and Cabinet), and Bloemfontein (the judicial capital, as the seat of the Supreme Court of Appeal).
|South Africa||South African rand||ZAR||1. South Africa (officially the Republic of South Africa) was independent from the U.K on May 31, 1910 and is a member of Common Monetary Area.
2. South African rand was introduced on 14 February 1961, and replaced the South African pound at the rate of 2 rand =1 pound or 10 shillings.
|Lesotho||Lesotho loti||LSL||1. Lesotho (officially the Kingdom of Lesotho) was independent from the U.K. on October 4, 1966 and is a member of Common Monetary Area.
2. The South African rand is accepted as legal tender in Lesotho. The Lesotho loti is pegged with the South African rand at par.
3. The Lesotho loti was firstly issued in 1966 but non-circulating. It became legal tender in 1980 and issued its own coins and banknotes.
|Swaziland||Swazi lilangeni||SZL||1. Swaziland (officially the Kingdom of Swaziland) was independent from British mandate on September 6, 1968 and is a member of Common Monetary Area.
2. The South African rand is accepted in Swaziland.
3. The Swazi lilangeni was introduced in 1974 pegged with the South African rand at par.
|Namibia||Namibian dollar||NAD||1. Namibia (officially the Republic of Namibia) was independent from South Africa on Marcy 21, 1990. It automatically became a member of Common Monetary Area upon independence but withdrew CMA in 1993 with its own currency of Namibian dollar introduction.
2. The South African rand had been the country's currency from 1920 to 1993 when the Namibian dollar was introduced. It is still officially accepted in Namibia and is pegged by Namibian dollar at par.
|Zimbabwe||The U.S. dollar||USD||The Zimbabwean dollar was used in Zimbabwe from 1980 to 2009 and is no longer active because of hyperinflation. Currently besides the U.S. dollar being used as official currency, some currencies of euro, South African rand, Botswana pula, Pound sterling are also used in Zimbabwe.|
South African rand history
The South African rand was introduced on February 14, 1961 as a decimal currency. It replaced the South African pound at a rate of 2 rand = 1 pound or 10 shillings. The South pound was used in South Africa from 1825 to 1961 with subdivision of shillings and pence (1 pound= 20 shillings= 240 pence).
South African rand coins and banknotes
The South African rand is subdivided into 100 cents.
Currently in circulation coins are in denominations of 5, 10, 20, 50 cent, 1, 2, 5 rand, and banknotes are in denominations of 10, 20, 50, 100, 200 rand.