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Value of the South African rand to the United States dollar from 1975 to 2015 by the blue columns: The percentage rate of change year-on-year is shown by the black line. [8] 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 the South African currency ...
On 29 January 2009, the Zimbabwean government legalised the use of foreign currencies, such as the United States dollar and the South African rand.In response, Zimbabweans quickly abandoned the old Zimbabwean dollar, which was collapsing from what was at the time the second-highest ever rate of hyperinflation in the world (after the Hungarian pengő in 1946).
Official, black market, and OMIR exchange rates 1 Jan 2001 to 2 Feb 2009. Note the logarithmic scale. Prices in shops and restaurants were still quoted in Zimbabwean dollars, but were adjusted several times a day.
On 6 September 2011, the Swiss National Bank announced that it would buy an "unlimited" number of euros to fix an exchange rate at 1.00 EUR = 1.20 CHF to protect its trade. This action temporarily eliminated the Swiss franc's hard currency advantage over the euro, but was abandoned in January 2015.
In 1993 Namibia issued its own currency, the Namibian dollar. In 2002 a new revenue-sharing formula was introduced in SACU, which included a development component. In 2003 Swaziland reauthorized the use of the rand as legal tender in the interest of facilitating exchange between these countries.
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 ...
For example, the purchasing power of the US dollar relative to that of the euro is the dollar price of a euro (dollars per euro) times the euro price of one unit of the market basket (euros/goods unit) divided by the dollar price of the market basket (dollars per goods unit), and hence is dimensionless. This is the exchange rate (expressed as ...
The official Zimbabwean dollar exchange rate had been frozen at Z$101,196 per U.S. dollar since early 2006, but as of 27 July 2006 the parallel (black market) rate has reached Z$550,000 per U.S. dollar. By comparison, 10 years earlier, the rate of exchange was only Z$9.13 per USD.