About the South African Rand
The South African Rand was introduced in 1961, replacing the South African Pound as part of the country's decimalisation and its move to become a republic.
The name 'Rand' is derived from the Witwatersrand ('White Waters Ridge'), the elevated region in South Africa where vast gold deposits were discovered.
Interesting Facts
Named After a Gold-Rich Ridge
The Rand is named after the Witwatersrand, the geographical ridge on which Johannesburg is built, famous for its massive gold deposits.
Nelson Mandela on Notes
All current South African banknotes feature the portrait of Nelson Mandela, the anti-apartheid revolutionary and first president of post-apartheid South Africa.
The Big Five
The reverse side of Rand banknotes features the 'Big Five' African animals: lion, elephant, rhino, buffalo, and leopard.
Historical Timeline
The South African Reserve Bank is established.
South Africa becomes a republic and the Rand is introduced.
The end of apartheid marks a new era for the South African economy and its currency.
A new series of banknotes featuring Nelson Mandela is introduced.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- ZAR
- Symbol
- R
- Numeric Code
- 710
- Subunit
- Cent (1/100)
- Introduced
- 1961-02-14
Central Bank
- Name
- South African Reserve Bank
- Headquarters
- Pretoria, South Africa
- Founded
- 1921
- Current Governor
- Lesetja Kganyago (since 2014)
Economic Data
- Reserve Currency Share
- 0.1%
- Forex Volume Share
- 0.7%
- Inflation Rate
- 5.2%
- Interest Rate
- 8.25%
Exchange Rates
Used In
What Affects the ZAR Exchange Rate?
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