The South African Rand is the currency of South Africa.The currency code for Rand is ZAR from Dutch Zuid-Afrikaanse Rand and the symbol is R. The rand is subdivided into 100 cents (sign: 'c'). The rand is legal tender in the Common Monetary Area between South Africa, Swaziland, Lesotho, and Namibia, although the latter three countries do have their own currencies. The most popular South African Rand exchange rate is the USD to ZAR rate.
Currency Facts
| ZAR Stats | ZAR Profile |
| Name :South African Rand | Central Bank : South African Reserve Bank Website:http://www.reservebank.co.za |
| Symbol : R Cent: c | Coins :Freq Used : R1, R2, R5, 5c, 10c, 20c |
| Minor Unit :1/100 = Cent | Banknotes : Freq Used :R10, R20, R50, R100, R200 |
| Top LKR Conversion:USD/ZAR | Users :South Africa, Lesotho, Namibia |
History of South African Rand
South Africa because of being a trading center, multiple currencies circulated throughout. The first official currency used was the Guilder. During the late 17th century, the Rixdollar was used and was the first South African currency to include paper notes. During British occupation, in 1826, the Cape Colony was put on a sterling basis, though other currencies, including Spanish Dollars, US Dollars, French Francs, and Indian Rupees continued to circulate. In 1921, the Reserve Bank of South Africa was established as the central bank. In 1961, the South African Rand replaced the Pound under a decimalized system.
