ZAR 50 | Bank Note | Fifty Rand | Kae Kae | CurrencyStackerKK | South Africa | Africa
50 South Africa Rand
The rand (sign: R; code: ZAR) is the official currency of South Africa. It is subdivided into 100 cents (sign: “c”).
The rand takes its name from the Witwatersrand (“white waters’ ridge” in English, rand being the Dutch and Afrikaans word for ‘ridge’), the ridge upon which Johannesburg is built and where most of South Africa’s gold deposits were found. The South African rand is also legal tender in the Common Monetary Area member states of Namibia, Lesotho and Eswatini. Although these three countries each have their own national currency (the dollar, the loti and the lilangeni respectively), all three have been pegged with the rand at par since their introductions, and the rand is still widely accepted as a substitute for them.
The Rand was also legal tender in Botswana until 1976, when the pula replaced the rand at par. The rand was introduced in the Union of South Africa in 1961, three months before the country declared itself a republic. A Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings, and pence; it submitted its recommendations on 8 August 1958. It replaced the South African pound as legal tender, at the rate of 2 rand to 1 pound, or 10 shillings to the rand. The government introduced a mascot, Decimal Dan, “the rand-cent man” (known in Afrikaans as Daan Desimaal). This was accompanied by a radio jingle, to inform the public about the new currency. Although pronounced in the Afrikaans style as /rʌnt/ in the jingles when introduced, the contemporary pronunciation in South African English is /rænd/.
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