Today’s fact will be about the South African Currency: the Rand. It’s monetary code is ZAR (which comes from the Dutch translation of South African Rand-I had wondered where the Z came from-now I know). Hopefully, I will get to use a fair amount of Rand in the next few years. 🙂
To put it simply, the Rand notes are COOL! They have safari animals, the Big Five, on them.
I personally think that’s some pretty sweet currency. Anyways, the bills come in 10, 20, 50, 100, and 200 notes, and the coins come in 1, 2, and 5 Rand, and 5, 10, 20, and 50 cents. There are 100 cents to every Rand.
The Rand is used primarily in South Africa, but it is used officially or unofficially in Lesotho, Swaziland, Zimbabwe, and Nambia. There is actually a Common Monetary Area between South Africa, Swaziland, and Lesotho. A Common Monetary Area is like the EU’s Eurozone-the Rand is legal tender within these three countries, even though it is not the national currency of Lesotho or Swaziland. This makes sense geographically because Lesotho is completely within South Africa, and Swaziland is bordered on most sides by South Africa.
The exchange rate from USD to ZAR is currently 1 to 6.815. This means one Rand is about 14 US cents. If you want to see the exchange rate in real time, look here: http://themoneyconverter.com/ZAR/USD.aspx
Not gonna lie-I’m still excited to use money with the Big Five safari animals on it. 🙂