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South African rand




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South African rand
Suid-Afrikaanse Rand (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 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.

The symbol for the rand is a capital R, written before the sum. Thus, one hundred rands is written as R100.

References

  1. 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.