South African rand
Official fiat currency of South Africa / From Wikipedia, the free encyclopedia
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The South African rand, or simply the rand, (sign: R; code: ZAR[lower-alpha 1]) is the official currency of the Southern African Common Monetary Area: South Africa, Namibia (alongside the Namibian dollar), Lesotho (alongside the Lesotho loti) and Eswatini (alongside the Swazi lilangeni). It is subdivided into 100 cents (sign: "c"), and a comma separates the rand and cents.[1]
List
| |
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ISO 4217 | |
Code | ZAR (numeric: 710) |
Subunit | 0.01 |
Unit | |
Plural | rand |
Symbol | R |
Denominations | |
Subunit | |
1⁄100 | Cent |
Symbol | |
Cent | c |
Banknotes | R10, R20, R50, R100, R200 |
Coins | 10c, 20c, 50c, R1, R2, R5 |
Rarely used | 1 cent, 2 cents (discontinued 2002) and 5 cents (discontinued 2012) |
Demographics | |
Official user(s) | South Africa[lower-alpha 1] Namibia[lower-alpha 2] Lesotho[lower-alpha 3] Eswatini[lower-alpha 4] |
Unofficial user(s) | Angola Malawi Zambia Zimbabwe[lower-alpha 5] |
Issuance | |
Central bank | South African Reserve Bank |
Website | www |
Printer | South African Bank Note Company |
Mint | South African Mint |
Website | www |
Valuation | |
Inflation | 7.5% (South Africa only) |
Source | South African Reserve Bank, Sept 2022 |
Method | CPI |
Pegged by | Namibian dollar Lesotho loti Swazi lilangeni (at par) |
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The South African rand is legal tender in the Common Monetary Area member states of Namibia, Lesotho, and Eswatini, with these three countries also having national currencies: (the dollar, the loti and the lilangeni respectively) pegged with the rand at parity and still widely accepted as substitutes. The rand was also legal tender in Botswana until 1976 when the pula replaced the rand at par.