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The rand was introduced in the then Union of South Africa on 14 February 1961, shortly before the establishment of the Republic on 31 May 1961. The rand replaced the pound with a decimal currency: 100 cents (100c) = 1 rand (R1), 1 rand being valued at 10 shillings and 1 cent at 1.2 pence. The coins bore the forward-facing portrait of Jan van ...
The legend is inscribed with "KRUGERRAND" and the gold weight. The Krugerrand ( / ˈkruːɡərænd /; [ 1] Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. [ 2][ 3] The name is a compound of Paul Kruger, the former ...
The 1 rand coin for circulation was introduced in 1967, followed by 2 rand coins in 1989 and 5 rand coins in 1994. Production of the 1 and 2-cent coins was discontinued in 2002, followed by 5-cent coins in 2012, primarily due to inflation having devalued them, but they remain legal tender.
Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar ).
Like the original 1980 coins, these special coins would be denominated in 1, 5, 10, 20, and 50 cents, but would have values at par with US cents. There would also be South African rand coins of 10, 20, 50 cents, 1, 2, 5 rands.
The kwacha ( / ˈkwætʃə /; ISO 4217: MWK, official name Malawi Kwacha[ 2]) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala. The kwacha replaced other types of currency, namely the British pound sterling, the South African rand, and the Rhodesian dollar, that had previously circulated through ...
The South African Mint is responsible for minting all coins of the South African rand on behalf of its owner, the South African Reserve Bank. Located in Centurion, Gauteng near South Africa's administrative capital Pretoria, the mint manufactures coins and planchets for both domestic and international markets. [2]
The Loti (plural: Maloti) is the currency of the Kingdom of Lesotho. It is subdivided into 100 lisente (sg. sente ). It is pegged to the South African rand on a 1:1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency.
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