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South Africa Currency:
The
Rand (ZAR) is the name of the South African Currency. The currency
got its name from the Witwatersrand ridge and was introduced in
1961 following the formation of the South African Republic.
The
Rand is one of the strongest currencies in Africa and trades
steadily against major world currencies. At the time of writing
(August
2006); One $ US was equivalent to 6.86 Rand, One British Pound
was equal to 12.93 Rand and One Euro was equal to 8.76 Rand.
One Rand is equivalent to 100 cents. Coin denominations exist
for 1, 2, 5, 10, 20, 50 cents and 1, 2 and 5 Rand. Banknotes
exist for 10, 20, 50, 100 and 200 Rand.
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