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ZAR is the currency of South Africa.

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The Rand is subdivided into cents sign: The Rand is legal tender Zar to inr yahoo dating the Common Monetary Area between South AfricaSwazilandLesothoand Namibiaalthough the last three countries do have their own currencies pegged at par with rand. Beforethe rand was legal tender in Botswana. The Zar to inr yahoo dating takes its name from the Witwaters Rand "white waters' ridge" in Englishthe ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found.

Its value thereafter fluctuated as various exchange rate dispensations were implemented by the South African authorities. By the earlys, high inflation and mounting political pressure combined with sanctions placed against the country due to international opposition to the apartheid system started to erode its value.

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By the time that State President P. As it became clear in the earlys that the country was destined for Black majority rule and one reform after the other was announced, uncertainty about the future of the country Zar to inr yahoo dating the depreciation until the level of R 3 to the dollar was breached in November This sudden depreciation in led to a formal investigation, which in turn led to a dramatic recovery.

At the start ofhowever, the currency resumed its rally, and as of 19 Januarywas trading under R 6 to the dollar again. However, during the second and third quarters of i. April through Septemberthe Rand weakened significantly.

In sterling terms, Zar to inr yahoo dating fell from around 9. In late, the Rand rallied modestly to just over 8p, only to experience a precipitous slide during the first quarter of This downward slide could be attributed to a range of factors: The Rand depreciation was exacerbated by the Eskom electricity crisis, which arose from the utility being unable to meet the country's rapidly growing energy demands.

A stalled mining industry in late led to new lows in early The rapid drop in value was stemmed when Zuma backtracked and announced that the better-known previous Minister of Finance, Pravin Gordhanwould instead be appointed to the post.

The January drop in value was also partly caused by Japanese retail investors cutting their losses in the currency to look for higher-yield investments elsewhere and due to concerns over the impact Zar to inr yahoo dating the economic slowdown Zar to inr yahoo dating ChinaSouth Africa's largest export partner.

In Aprila Reuters poll estimated that the Rand would remain relatively stable for the rest of the year, as two polls found that analysts had already factored in a possible downgrade to "junk" status. At the time, Moody's graded South Africa two notches above junk status. At the time, it had no permanent CEO, and Colin Coleman of Goldman Sachs in Africa said the company was "having discussions on solutions" on finding credible management.

Reuters noted that "South Africa is highly susceptible to global investor sentiment as the country relies on foreign money to cover it's large budget and current account deficits.

The 2-Rand coin was introduced infollowed by 5-Rand coins in Production of the 1- Zar to inr yahoo dating 2-cent coins was discontinued inprimarily due to inflation having devalued them, but they remain legal tender. In an effort to curb counterfeiting, a new 5-Rand coin was released in August The first series of Rand banknotes was introduced in in denominations of 1- 2-,and Rand, with similar designs and colours to the preceding pound notes to ease the transition.

They bore the image of what was believed at the time to Zar to inr yahoo dating Jan van Riebeeckthe first V. It was later discovered that the image was not in fact Van Riebeeck at all, a portrait of Bartholomeus Vermuyden had been mistaken for Van Riebeeck. InZar to inr yahoo dating second series was released with designs which moved away from the previous pound notes. Notes with denominations of 1- 5- and Rand were produced with predominantly one colour per note.

A smaller 1-Rand note with the same design was introduced in and a 2-Rand note was introduced in The Rand denomination from the first series was dropped. All notes bore the image of Jan van Riebeeck. The practice of having an English and an Afrikaans version of each note was continued in this series. The series began with denominations of 2- 5- and Rand, with a Rand introduced in This series had only one language variant for each denomination of note.

Afrikaans was the first language on the 2-,and Rand, while English was the first language on the 5- and Rand. The 1-Rand note was replaced by a coin. In the s, the notes were redesigned with images of the Big Five wildlife species.

Coins were introduced for the 2- and 5-Rand, replacing the notes of the previous series, mainly because of the severe wear and tear experienced with low-denomination notes in circulation. Inand Rand notes were introduced.

The series has the same principal design, but with additional security features such as colour-shifting ink on the Rand and higher and the EURion constellation. The obverses of all denominations were printed in English, while two other official languages were printed on the reverse, thus making use of all 11 official languages of South Africa.

Inthe South African Reserve Bank and commercial banks withdrew all series Rand banknotes due to relatively Zar to inr yahoo dating counterfeit notes Zar to inr yahoo dating circulation.

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Inthe South African Reserve Bank issued Rand banknotes which were defective because they lacked fluorescent printing visible under UV light.

In addition, the notes printed in Sweden were not the correct colour, and they were 1 mm short. On 11 FebruaryPresident Jacob Zuma announced that the country would be issuing a new set of banknotes bearing Nelson Mandela 's image.

Inthe series was updated with the addition of the EURion constellation to all five denominations. On 18 Julya special commemorative series of banknotes Zar to inr yahoo dating released in commemoration of the th anniversary of Nelson Mandela's birth.

This series includes notes of all denominations,and Rand. These notes will circulate alongside the existing notes. From Wikipedia, the free encyclopedia. This article needs additional citations for verification.

Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. February Learn Zar to inr yahoo dating and when to remove this template message. The US dollar has been adopted as the official currency for all government transactions.

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Coins of the South African rand. Catchy Tune Teaches New Currency". Retrieved 12 January Retrieved 13 January Retrieved 28 November South African Reserve Bank. Retrieved 11 February Retrieved 6 November Retrieved 10 March Retrieved 13 June New Nelson Mandela banknotes launched". Retrieved 16 July Standard Catalog of World Coins: Standard Catalog of World Paper Money: Bruce II and Neil Shafer editors 7th ed.

Economy of South Africa. Mining industry Coal Agriculture Whaling. Zar to inr yahoo dating franc Djiboutian franc Eritrean nakfa Ethiopian birr Kenyan shilling Seychellois rupee Somali shilling Somaliland shilling unrecognized South Sudanese pound Tanzanian shilling Ugandan shilling.

Cents Zimbabwean bond Zar to inr yahoo dating since 28 November - denominated in U. Retrieved from " https: Articles needing additional references from February All articles needing additional references Use dmy dates from April Use South African English from April All Wikipedia articles written in South African English Articles containing Afrikaans-language text Articles containing Southern Ndebele-language text Articles containing Xhosa-language text Articles containing Zulu-language text Articles containing Swazi-language text Articles containing Northern Sotho-language text Articles containing Sotho-language Zar to inr yahoo dating Articles containing Tswana-language text Articles containing Tsonga-language text Articles containing Venda-language text Articles with German-language external links.

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Views Read Edit View history. In other projects Wikimedia Commons. This page was last edited on 12 Novemberat By using this site, you agree to the Terms of Use and Privacy Policy. List 10 other official names: Krugerrand value pegged with 1oz gold. South African Reserve BankNovember Lesotho lotiSwazi lilangeniand Namibian dollarall at par. Jan van Riebeeck, Union Buildings and springbok. South African pound Reason: Currency of South Africa —.

Currency of South West Africa — Note: Currency of Namibia — Legal tender in Namibia —. Currency of Basutoland — Zar to inr yahoo dating Currency of Lesotho — Legal tender in Lesotho —. Currency of Swaziland — Legal tender in Swaziland — Free currency converter or travel reference card using daily OANDA Rate® data. Zar to inr yahoo dating currencies using interbank, ATM, credit card, and kiosk cash rates. At Yahoo Finance, you get free stock quotes, the latest news, portfolio management resources, international 1 Indian Rupee = United States Dollar.

Reference rates over last four months - South African rand (ZAR) ILS, Zar to inr yahoo dating shekel, INR, Indian rupee, KRW, South Korean won,


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ZAR is the currency of South Africa. The Rand is subdivided into cents sign: The Rand is legal tender in the Common Monetary Area between South Africa , Swaziland , Lesotho , and Namibia , although the last three countries do have their own currencies pegged at par with rand.

Before , the rand was legal tender in Botswana. The Rand takes its name from the Witwaters Rand "white waters' ridge" in English , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. Its value thereafter fluctuated as various exchange rate dispensations were implemented by the South African authorities.

By the earlys, high inflation and mounting political pressure combined with sanctions placed against the country due to international opposition to the apartheid system started to erode its value. By the time that State President P.

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South African rand

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South African rand (ZAR)

South African rand continues to circulate unofficially. On 18 July , a special commemorative series of banknotes was released in commemoration of the th anniversary of Nelson Mandela's birth.

Retrieved 13 June Legal tender in Namibia —. This sudden depreciation in led to a formal investigation, which in turn led to a dramatic recovery.

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