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South Africa
South African Rand (ZAR)
Curiosities about the currency
The rand (whose ISO is ZAR) has been the currency in circulation in South Africa since 1961, the year it replaced the South African pound. It is divided into 100 cents and its symbol is R. Until 1982, its value was higher than that of the US dollar, but this situation changed due to apartheid.
The current rand banknotes are 10, 20, 50, 100, and 200 ZAR. The most recent series is from 2012 and features Nobel Peace Prize winner Nelson Mandela on the front. These South African rand banknotes have been nicknamed "Randela".
The circulating currencies of rands are 10, 20, and 50 cents, as well as 1, 2, and 5 rands. All of them feature a national element (the coat of arms or the flag) and a native animal or plant. Since 1967, there have also been Krugerrands or investment currencies.
As for banking institutions, the first bank established in the country was the Lombaard Bank, in Cape Town, inaugurated on 23 April 1793. It was one of the first to officially manage a currency of Africa.
The rand, currency of South Africa, is also official in Namibia, Lesotho and Swaziland. The Namibian dollar, the loti and the lilangeni are official here, respectively. The value of these three currencies is pegged to that of the South African rand.
What do the banknotes/coins look like?
Front part
*The banknotes and coins correspond to the newest issued series and are for reference. Colours may vary and there may be more designs than those shown.