South African Rand (ZAR)

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South African Rand (ZAR)
The US Dollar is the most-used currency in international transactions.

Officially introduced in 1961, the South African Rand is the official currency of South Africa, Lesotho, Namibia and Swaziland, and is unofficially used by Zimbabwe. South Africa’s monetary history includes a number of currencies, given its status as a trading post, and its first official currency was the Guilder, followed by the Rixdollar - the first South African currency to use paper notes! Under the British in 1826, Cape Colony used the sterling, though several other currencies continued to be in use (including Spanish and US Dollars, French Francs and the Indian Rupee). The South African Rand finally replaced the South African Pound in 1961. It is produced by the South African Reserve Bank, and can be abbreviated to ‘ZAR’ or ‘R’.

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