In the state of South Africa, the status of the national currency is South African rand. In addition, these banknotes are used in other countries that are part of the single currency zone with this republic. It is about Lesotho and Swaziland. The Namibian dollar is still attached to the South African rand. The fact is that until 1993, Namibia was also a member of the monetary union.
Currency Unit Overview
In the international banking system, the currency of South Africa is labeled ZAR. The currency includes one hundred cents. Today, banknotes in denominations of ten, twenty, fifty, one hundred and two hundred rand are used in operations. Along with this, there are one, two, five, ten, twenty, fifty cents and one, two and 5 rand coins in circulation. By the way, it will be said that coins of one and two cents have not been made since 2002, but they still participate in operations legally.
Currency design
Today, the currency of South Africa is framed using images of the so-called Big Five animals of Africa. So, on the obverse of a ten-rand bill there is the head of a white rhinoceros, on the twenty rand is an African elephant, on fifty rand is a lion's head, one hundred rand on an obverse contains a buffalo, and two hundred rand contains a leopard. The back of the banknotes is framed using images of a variety of natural landscapes or industrial facilities. In February 2012, the leadership of South Africa, represented by President Jacob Zuma, announced the launch of a new form of notes. On them is a portrait of the first black ruler of the Republic, Nelson Mandela.
On the obverse of the coins of South Africa are the state emblem, year of manufacture, as well as the name of the state, inscribed in one of the local dialects. These include Ndebele, Tsonga, Swazi, Soto and Scythe. In addition, inscriptions in Afrikaans and English are used. On the opposite side, various representatives of the local fauna and flora are minted. For example, at one cent, the South African currency contains two sparrows sitting on a branch of a mimosa, at two cents you can see an image of an African screaming eagle, and at five cents there is a crane of paradise. In addition, a calla flower is displayed at ten cents, a twenty-cent coin contains the image of a royal protea flower, which is considered one of the main national emblems of South Africa. Also worth noting is a fifty-cent coin, one, two and five metal rands. They respectively depict royal strelitzia, springbok antelope, kudu antelope and wildebeest.
Rand rate relative to other banknotes
At the moment, the rand is in limited currency conversion status. 1 to 0.07 - so the currency is quoted in relation to the US dollar South Africa. Exchange rate to the euro - 1 / 0,064. South African currency The exchange rate to the ruble is 1 to 4.54. It will be the way to say that the rand is very popular among traders engaged in trading on sites like Forex. This is due to a number of circumstances. Among them, significant changes in the exchange rate of this currency should be highlighted, which makes it possible to make good money on the difference. True, the risks in this case are significantly increased. Another attractive feature of the South African rand is its provision. Behind this currency is the powerful economy of South Africa. This country is rich in its minerals and is currently one of the most dynamically developing countries.
Conclusion
In conclusion, it should be noted that there are no restrictions on the import of currency into the Republic of South Africa . In this case, documented information on the amount of funds imported should be provided. South African currency is allowed to be exported in an amount not exceeding the amount indicated in the document upon entry. On the export of goods from the country some restrictions are imposed, like those that apply in other countries, including Russia.