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[12] In 2014, South Africa experienced its worst year against the US dollar since 2009, [13] and in March 2015, the rand traded at its worst since 2002. [13] At the time, Trading Economics released data that the rand "averaged R4.97 to the dollar between 1972–2015, reaching an all time high of R12.45 in December 2001 and a record low of R0.67 ...
The exchange rate of the dollar to the South African rand is up about 23% over the past five years, according to NetVoucherCodes. As of writing, $1 was equal to about 18 South African rands. Brazil
Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar).
Although the South African rand is legal tender across the CMA, the other member states issue their own currencies exchanged at par with it: the Lesotho loti, Namibian dollar and Swazi lilangeni. Foreign exchange regulations and monetary policy throughout the CMA continue to reflect the influence of the South African Reserve Bank.
The US dollar, the euro, and the South African rand were candidates; the US dollar had the most credibility and was the most widely traded within Zimbabwe. [68] Zimbabwe could have joined the nearby nations of Lesotho , Namibia , South Africa , and Eswatini , which constitute the Common Monetary Area , or "Rand Zone" [ 10 ] by formally deciding ...
Zimbabwe: uses the Zimbabwe dollar, and also accepts the South African rand, the US dollar, [9] the Euro, the Pound sterling, the Botswana pula, the Chinese yuan, the Indian rupee and the Japanese yen. [10]
South African rand: R ZAR Cent: 100 4 South Africa, Eswatini, Lesotho, Namibia: CFP franc ₣, F, or Fr XPF Centime: 100 3 French Polynesia, New Caledonia, Wallis and Futuna: Chilean peso $ CLP Centavo: 100 3 Chile (Chilean Antarctic Territory, Easter Island) Danish krone: kr DKK Øre: 100 3 Denmark (Faroe Islands, Greenland) Indian rupee ...
The loti was first issued in 1966, albeit as a non-circulating currency. In 1980, Lesotho issued its first coins denominated in both loti and lisente (dated 1979) to replace the South African rand, but the rand remains legal tender. The name derives from the Sesotho loti, "mountain," while sente is from English "cent". [1] [2]