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SOUTH AFRICAN RAND - ZAR

Todays Date : 01/21/2021

The South African rand, symbol R, code ZAR, is the official currency of the Republic of South Africa. The South African rand is also used in Namibia, Lesotho, and Swaziland. The rand is subdivided into 100 cents, c. The currency name is derived from ridge of the same name in Johannesburg, where most of South Africa’s gold mines are situated. The rand is managed by the South African Reserve Bank in Pretoria. 

The South African rand was first were introduced in the year 1961, replacing the S. African pound as the national currency. This was done in the very same year as the establishment of the South African Republic. When the coins were introduced in 1961, there were denominations ½ and 2 ½ issued, which were later discontinued. When the South African rand was first introduced the populace was made familiar regarding the currency through a mascot, which was named the, ‘Rand-Cent Man’. 

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Currency Quick Facts

Name: South African rand

Symbol: R

Code: ZAR

Decimal Unit: 100 groszy

Nicknames: none

Coins: 1, 2, 5, 10, 20, 50gr; 1, 2, 5zt

Notes: 10, 20, 50, 100, 200zt

Central Bank: National Bank of Poland

Country(ies): Poland

Currency Characteristics

The South African rand currently circulates coins in the values of 1 c, 2 c, 5 c, 10 c, 20 c and 50 cents. After 2002 the one and two cent coins have been discontinued, though they remain legal tender. Rand banknotes in circulation include 10 R, 20 R, 50 R, 100 R and 200 R notes. Rand banknotes feature various S. African wild animals and the portrait of Nelson Mandela on their obverse side. Notes are printed in different colors to allow for easy differentiation among values. 

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