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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 ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
Although the natural resource extraction industry remains one of the largest in the country with an annual contribution to the GDP of US$13.5 billion, [36] the economy of South Africa has diversified since the end of apartheid, particularly towards services. In 2019, the financial industry contributed US$41.4 billion to South Africa's GDP. [37]
A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR/USD. The quotation EUR/USD 1.2500 means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency (counter currency). This means that 1 Euro can be exchangeable to 1.25 US Dollars.
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
Currency ISO 4217 code Symbol or Abbrev. [2]Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp Euro
A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency.These states may not necessarily have any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market).
USD: Djibouti: DJF: Egypt: EGP: Lodged a formal reservation over the start date, etc. Eswatini: SWL ZAR(pegged at parity 1:1) Lodged a formal reservation over the start date, etc. Ethiopia: ETB: Equatorial Guinea: XAF: Gabon: XAF: The Gambia: GMD: Planning to launch the Eco at an earlier date. Ghana: GHS: Planning to launch the Eco at an ...