South African rand
The rand (sign: R; code: ZAR) is the South African currency. 100 cents make up one rand. The rand is named after an area near Johannesburg called the Rand, which is famous for its gold mines.
| South African rand | |
|---|---|
| Suid-Afrikaanse Rand (in Afrikaans) | |
| ISO 4217 Code | ZAR |
| Official user(s) |  South Africa (Common Monetary Area member) Lesotho (Common Monetary Area member), alongside Lesotho loti Namibia (Common Monetary Area member), alongside Namibian dollar Swaziland (Common Monetary Area member), alongsde Swazi lilangeni
|
| Unofficial user(s) |  Zimbabwe[1] |
| Inflation | 3.6% (South Africa only) |
| Source | South African Reserve Bank, November 2010 |
| Method | CPI |
| Pegged with | Lesotho loti, Swazi lilangeni and Namibian dollar at par |
| Subunit | |
| 1/100 | Cent |
| Symbol | R |
| Cent | c |
| Plural | rand |
| Coins | 10c, 20c, 50c, R 1, R 2, R 5 |
| Banknotes | R 10, R 20, R 50, R 100, R 200 |
| Central bank | South African Reserve Bank |
| Website | www.reservebank.co.za |
The symbol for the rand is a capital R, written before the sum. Thus, one hundred rand is written as R100. The plural form is "rand" in both English and Afrikaans. In February 2018, it was announced that a new series of banknotes would be released in commemoration of what would have been Nelson Mandela's centennial year. This series would include notes of all denominations, 10-, 20-, 50-, 100- and 200-Rand. These notes would circulate alongside existing notes and be released on 18 July 2018, which was the 100th anniversary of his birth.[34] The notes depict the standard face of Nelson Mandela on the obverse, but instead of the Big Five animals on the reverse, they show a younger Mandela with different iconic scenes related to his legacy. These scenes comprise: the rolling hills of the Eastern Cape, featuring Mandela’s humble birthplace of Mvezo (10-Rand); the home of Mandela in Soweto, where he defined his political life alongside other struggle icons (20-Rand); the site where Mandela was captured near Howick, following 17 months in hiding, where a monument has been erected in his honour (50-Rand); the place of Mandela's 27-year imprisonment at Robben Island (100-Rand); the inauguration of Mandela as president at the Union Buildings in 1994 (200-Rand).
South African Rand Media
Value of the South African rand to the United States dollar from 1975 to 2015 by the blue columns: The percentage rate of change year-on-year is shown by the black line.
Two generations of older notes and coins: The notes of the latter of these two generations (as depicted by the R5 note in this image) were replaced with the iconic "Big Five" notes and these were recently updated to show the face of Nelson Mandela.
South African ATM showing R 50 and R 100 banknotes.
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References
- ↑ Alongside Zimbabwean dollar (suspended indefinitely from 12 April 2009), euro, US dollar. Pound sterling and Botswana pula. The US dollar has been adopted as the official currency for all government transactions.
