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One rand was worth US$1.40 (R0.72 per dollar) from the time of its inception in 1961 until late 1971, and the U.S. dollar became stronger than South African currency for the first time on 15 March 1982. [9] Its value thereafter fluctuated as various exchange rate dispensations [clarification needed] were implemented by the South African ...
3.1 US dollar as exchange rate anchor. ... 4.3 Rand as exchange rate anchor. ... [1] De facto exchange-rate arrangements in 2022 as classified by the International ...
The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal. [ citation needed ] In many rural areas there is still a strong bartering culture, the exchanged items being of more immediate value than official currency (following the principle that one can ...
This is a list of circulating fixed exchange rate currencies, ... South African rand: 1 Turkmenistan manat: U.S. dollar: 3.5 Tuvaluan dollar: Australian dollar: 1
South African rand: ZAR: R: 1.1%: 1.0%: 0.1pp Brazilian real: BRL: R$ ... often defined as 1 ⁄ 100 of the main unit: 100 cents = 1 dollar, ... The exchange rate ...
South African rand: R ZAR Cent: 100 South Georgia and the South Sandwich Islands: Falkland Islands pound £ FKP Penny: 100 Sterling £ GBP Penny: 100 Liberia: Liberian dollar $ LRD Cent: 100 United States dollar $ USD Cent: 100 Libya: Libyan dinar: LD LYD Dirham: 1000 Liechtenstein: Swiss franc: Fr CHF Rappen: 100 Lithuania: Euro € EUR Cent ...
Currency distribution of global foreign exchange market turnover [1. Currency ... Singapore dollar: SGD $, S$ 1.8%: 2.4%: 0.6pp ... 1.1%: 0.2pp South African rand ...
The financial rand system provided for two exchange rates for the rand — one for current account transactions and one for capital account transactions for non-residents. [4] Investments made in South Africa by non-residents could only be sold for financial rand, and limitations were placed on the convertibility of financial rand into foreign ...