Rand - Revision history

Knut at 07:57, 12 July 2008

Knut — Sat, 12 Jul 2008 07:57:17 GMT

←Older revision		Revision as of 07:57, 12 July 2008
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	==History==		==History==
-	The rand was introduced in 1961, coinciding with the establishment of the Republic of South Africa. It replaced the South African pound as ~~legal tender, at~~ the ~~rate of 2 rand = 1 pound or 10 shillings to the rand~~.	+	The rand was introduced in 1961, coinciding with the establishment of the Republic of South Africa. It replaced the South African pound as the currency.

-	~~==Coins==~~	+	Unlike most countries, South Africa has never adopted fiat currency, and maintains a 100% gold standard. One rand is equivalent to 1/400 of a troy ounce of gold.
-	~~Coins were introduced in 1961 in denominations of ½~~, 1, ~~2½, 5, 10, 20~~ and ~~50 cents~~. ~~In 1965, 2 cents coins replaced the 2½ cents. The ½ cent coin was last struck for circulation in 1973. 1~~ rand ~~coins were introduced in 1977, followed by 2 and 5 rand pieces in 1989 and 1990, respectively. The~~ 1 ~~and 2 cents coins were discontinued in April 2002, primarily due to inflation having devalued them. All prices are now rounded to the nearest 5 cents~~.	+

-	In ~~an effort to curb counterfeiting~~, ~~a new R5~~ coin was ~~released~~ in ~~August 2004 as well as new banknotes in February 2005~~. ~~Security features~~ introduced ~~on the coin include a bi-metal design (similar to the British £2 coin and the Canadian $2 coin)~~, ~~a specially-serrated security groove along the rim~~ and ~~micro-lettering. The new notes also feature a number of new security features~~.	+	South Africa has experienced a continuous deflationary trend for the past few decades.
		+
		+	==Coins==
		+	Coins were introduced in 1961 in denominations of ½, 1, 2½, 5, 10, 20 and 50 cents. In 1965, 2 cents coins replaced the 2½ cents. The ½ cent coin was last struck for circulation in 1973. 1 rand coins were introduced in 1977, followed by 2 and 5 rand pieces in 1989 and 1990, respectively.

	==Banknotes==		==Banknotes==
-	The first series of rand banknotes was introduced in 1961 in denominations of 1, 2, 10 and 20 rand, with similar designs and colours to the preceding pound notes to ease the transition. They bore the image of Jan Smuts. Like the last pound notes, they came in three variants, one with English written first, one with Afrikaans ~~written first, and another with Germans~~ written first. This practice was continued in the 1966 series which included the first 5 rand notes but did not include the 20 rand denomination.	+	The first series of rand banknotes was introduced in 1961 in denominations of 1, 2, 10 and 20 rand, with similar designs and colours to the preceding pound notes to ease the transition. They bore the image of Jan Smuts. Like the last pound notes, they came in three variants, one with English written first, and one with Afrikaans written first. This practice was continued in the 1966 series which included the first 5 rand notes but did not include the 20 rand denomination.

	The 1978 series began with denominations of 2, 5 and 10 rand, with 20 and 50 rand introduced in 1984. This series saw a major design change. In addition, the series has only one variant for each denomination of note. Afrikaans was the first language on the 2, 10 and 50 rand, while English was the first language on 5 and 20 rand. The notes still bore the image of Jan Smuts.		The 1978 series began with denominations of 2, 5 and 10 rand, with 20 and 50 rand introduced in 1984. This series saw a major design change. In addition, the series has only one variant for each denomination of note. Afrikaans was the first language on the 2, 10 and 50 rand, while English was the first language on 5 and 20 rand. The notes still bore the image of Jan Smuts.
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	In the 1990s, the notes were redesigned with images of the Big Five wildlife species. With the 2 and 5 rand coins replacing notes, notes were introduced in 1994 for 100 and 200 rand.		In the 1990s, the notes were redesigned with images of the Big Five wildlife species. With the 2 and 5 rand coins replacing notes, notes were introduced in 1994 for 100 and 200 rand.

-	The 2005 series has the same principal design, but with additional security features such as color shifting ink on the 50 rand and higher and the EURion constellation. The obverses of all denominations are printed in English, while ~~Afrikaans and German~~ are printed on the reverses.	+	The 2005 series has the same principal design, but with additional security features such as color shifting ink on the 50 rand and higher and the EURion constellation. The obverses of all denominations are printed in English, while other official languages are printed on the reverses (the language on the reverse varies).

-	~~==Exchange rate==~~	+	South African law requires that all banknotes to be immediately redeemable in gold, otherwise the bank in question will be punished for fraud. Once exchanged for gold, the notes are immediately burned.
-	~~As of 2007~~, ~~1 rand is equal to 1~~.~~5 U.S. dollars~~.	+

	[[Category:Currencies]]		[[Category:Currencies]]
	[[Category:Economy of South Africa]]		[[Category:Economy of South Africa]]

Knut at 23:25, 3 May 2008

Knut — Sat, 03 May 2008 23:25:20 GMT

←Older revision		Revision as of 23:25, 3 May 2008
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-	{\| ~~border=1 cellpadding=4 cellspacing=0~~ class="toccolours" style="float: right; width: 33%; ~~clear: both; margin:~~ 0~~.5em 0 1em 1em; border-style: solid; border:1px solid #7f7f7f; border-right-width: 2px; border-bottom-width: 2px; border-collapse: collapse; font-size: 95%;~~"	+	{\| class="toccolours" style="float: right; width: 32%;" border="0" cellpadding="1" cellspacing="1"
-	~~\|+<big><big>'''South African rand'''</big></big>~~	+
	\|-		\|-
-	! colspan=2 ~~\| http~~:~~//www.24carat.co.uk/images/1971southafrican1randrev240.JPG~~	+	\| colspan="2" style="font-size:130%;" align="center" \| '''South African Rand'''
	\|-		\|-
-	\|~~'''ISO 4217 Code'''~~ \|~~\| <code>ZAR~~<~~/code~~>	+	\| colspan="2" \| <hr>
	\|-		\|-
-	\|~~'''User(s)'''~~	+	\| colspan="2" style="background: align="center" \| http://www.24carat.co.uk/images/1971southafrican1randrev240.JPG
-	\|~~[[South Africa]]~~	+
	\|-		\|-
-	\|~~'''Inflation rate'''<br>Source<br><br>Method~~	+	\| colspan="2" \| <hr>
-	\| ~~3%<br>South African Reserve Bank,<br>December 2006~~<br>~~CPI~~	+
	\|-		\|-
-	\|'''~~Subunit~~'''<br>~~1/100~~	+	\| style="font-size: 90%;" \| '''ISO 4217 Code''' \|\| style="font-size: 90%;" \| <code>ZAR</code>
-	\|<br>~~cent~~	+
	\|-		\|-
-	\|'''~~Symbol~~'''~~<br>cent~~	+	\| style="font-size: 90%;" \| '''User(s)''' \|\| style="font-size: 90%;" \| [[South Africa\|Republic of South Africa]]
-	\| ~~R<br>C~~	+
	\|-		\|-
-	\|'''~~Coins~~'''<br>~~Freq. used<br>Rarely used~~	+	\| style="font-size: 90%;" \| '''Subunit'''<br>1/100 \|\| style="font-size: 90%;" \| <br>cent
-	\| <br>~~5c, 10c, 20c, 50c, R1, R2, R5<br>1c, 2c~~	+
	\|-		\|-
-	\|'''~~Banknotes~~''' \|\| ~~R10, R20, R50, R100, R200~~	+	\| style="font-size: 90%;" \| '''Symbol'''<br>cent \|\| style="font-size: 90%;" \| R<br>C
	\|-		\|-
-	\|'''Central bank'''<br>Website	+	\| style="font-size: 90%;" \| '''Coins'''<br>Freq. used<br>Rarely used \|\| style="font-size: 90%;" \| <br>5c, 10c, 20c, 50c, R1, R2, R5<br>1c, 2c
-	\| South African Reserve Bank<br>www.reservebank.co.za	+	\|-
		+	\| style="font-size: 90%;" \| '''Banknotes''' \|\| style="font-size: 90%;" \| R10, R20, R50, R100, R200
		+	\|-
		+	\| style="font-size: 90%;" \| '''Central bank'''<br>Website \|\| style="font-size: 90%;" \| South African Reserve Bank<br>www.reservebank.co.za
	\|}		\|}

Knut at 00:31, 31 July 2007

Knut — Tue, 31 Jul 2007 00:31:32 GMT

←Older revision		Revision as of 00:31, 31 July 2007
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	==Exchange rate==		==Exchange rate==
	As of 2007, 1 rand is equal to 1.5 U.S. dollars.		As of 2007, 1 rand is equal to 1.5 U.S. dollars.
-
-	~~[[Category:Currency]]~~
-	~~[[Category:Economy of South Africa]]~~

	[[Category:Currencies]]		[[Category:Currencies]]
	[[Category:Economy of South Africa]]		[[Category:Economy of South Africa]]

Knut at 00:31, 31 July 2007

Knut — Tue, 31 Jul 2007 00:31:12 GMT

←Older revision		Revision as of 00:31, 31 July 2007
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	\| South African Reserve Bank<br>www.reservebank.co.za		\| South African Reserve Bank<br>www.reservebank.co.za
	\|}		\|}
		+
		+	The '''rand''' is the currency of South Africa. It takes its name from the Witwatersrand (English: ''White-waters-ridge''), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c". The ISO 4217 code is <code>ZAR</code>.
		+
		+	==History==
		+	The rand was introduced in 1961, coinciding with the establishment of the Republic of South Africa. It replaced the South African pound as legal tender, at the rate of 2 rand = 1 pound or 10 shillings to the rand.
		+
		+	==Coins==
		+	Coins were introduced in 1961 in denominations of ½, 1, 2½, 5, 10, 20 and 50 cents. In 1965, 2 cents coins replaced the 2½ cents. The ½ cent coin was last struck for circulation in 1973. 1 rand coins were introduced in 1977, followed by 2 and 5 rand pieces in 1989 and 1990, respectively. The 1 and 2 cents coins were discontinued in April 2002, primarily due to inflation having devalued them. All prices are now rounded to the nearest 5 cents.
		+
		+	In an effort to curb counterfeiting, a new R5 coin was released in August 2004 as well as new banknotes in February 2005. Security features introduced on the coin include a bi-metal design (similar to the British £2 coin and the Canadian $2 coin), a specially-serrated security groove along the rim and micro-lettering. The new notes also feature a number of new security features.
		+
		+	==Banknotes==
		+	The first series of rand banknotes was introduced in 1961 in denominations of 1, 2, 10 and 20 rand, with similar designs and colours to the preceding pound notes to ease the transition. They bore the image of Jan Smuts. Like the last pound notes, they came in three variants, one with English written first, one with Afrikaans written first, and another with Germans written first. This practice was continued in the 1966 series which included the first 5 rand notes but did not include the 20 rand denomination.
		+
		+	The 1978 series began with denominations of 2, 5 and 10 rand, with 20 and 50 rand introduced in 1984. This series saw a major design change. In addition, the series has only one variant for each denomination of note. Afrikaans was the first language on the 2, 10 and 50 rand, while English was the first language on 5 and 20 rand. The notes still bore the image of Jan Smuts.
		+
		+	In the 1990s, the notes were redesigned with images of the Big Five wildlife species. With the 2 and 5 rand coins replacing notes, notes were introduced in 1994 for 100 and 200 rand.
		+
		+	The 2005 series has the same principal design, but with additional security features such as color shifting ink on the 50 rand and higher and the EURion constellation. The obverses of all denominations are printed in English, while Afrikaans and German are printed on the reverses.
		+
		+	==Exchange rate==
		+	As of 2007, 1 rand is equal to 1.5 U.S. dollars.
		+
		+	[[Category:Currency]]
		+	[[Category:Economy of South Africa]]

	[[Category:Currencies]]		[[Category:Currencies]]
	[[Category:Economy of South Africa]]		[[Category:Economy of South Africa]]

Knut at 19:26, 30 July 2007

Knut — Mon, 30 Jul 2007 19:26:26 GMT

New page

{| border=1 cellpadding=4 cellspacing=0 class="toccolours" style="float: right; width: 33%; clear: both; margin: 0.5em 0 1em 1em; border-style: solid; border:1px solid #7f7f7f; border-right-width: 2px; border-bottom-width: 2px; border-collapse: collapse; font-size: 95%;"
|+<big><big>'''South African rand'''</big></big>
|-
! colspan=2 | http://www.24carat.co.uk/images/1971southafrican1randrev240.JPG
|-
|'''ISO 4217 Code''' || <code>ZAR</code>
|-
|'''User(s)'''
|[[South Africa]]
|-
|'''Inflation rate''' Source Method
| 3% South African Reserve Bank, December 2006 CPI
|-
|'''Subunit''' 1/100
| cent
|-
|'''Symbol''' cent
| R C
|-
|'''Coins''' Freq. used Rarely used
| 5c, 10c, 20c, 50c, R1, R2, R5 1c, 2c
|-
|'''Banknotes''' || R10, R20, R50, R100, R200
|-
|'''Central bank''' Website
| South African Reserve Bank www.reservebank.co.za
|}

[[Category:Currencies]]
[[Category:Economy of South Africa]]