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The South African Rand, coded ZAR on currency markets.
Equivalent (Jan 2008) to about USD 14c, EUR 10c and GBP 7p
Named after the Witwatersrand (White Waters Ridge) which runs through Johannesburg, where the worlds largest deposits of gold lie. The gold contributes a lot to the wealth of South Africa so the currency is appropriately named.
The Rand was created in 1961, when South Africa became a Republic, fully independent from Great Britain. Previously South Africa used the Pound, Shillings and Pence currency as in the UK.
Currency is administered by the South African Reserve Bank.
See the link below to a currency converter if you would like to check an exchange rate/ value.
Odd fact:
Rand means 'ridge' and Dollar comes from 'thaler' (German) meaning "valley" or "dale".
The South African rand $1 = +-R7
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