![]() ![]() The government introduced a mascot, Decimal Dan, "the rand-cent man" (known in Afrikaans as Daan Desimaal). It replaced the South African pound as legal tender, at the rate of 2 rand to 1 pound, or 10 shillings to the rand. A Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings, and pence it submitted its recommendations on 8 August 1958. The rand was introduced in the Union of South Africa in 1961, three months before the country declared itself a republic. In English and Afrikaans (and Dutch), the singular and plural form of the unit ("rand") is the same: one rand, ten rand, two million rand. The rand takes its name from the Witwatersrand ("white waters' ridge" in English, rand being the Afrikaans (and Dutch) word for ' ridge'), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand was also legal tender in Botswana until 1976, when the pula replaced the rand at par. The South African rand is legal tender in the Common Monetary Area member states of Namibia, Lesotho and Eswatini, with these three countries also having their own national currency (the dollar, the loti and the lilangeni respectively) pegged with the rand at parity and still widely accepted as substitutes. It is subdivided into 100 cents (sign: "c") and the rand and cents are separated by a comma. The South African rand, or simply the rand, ( sign: R code: ZAR ) is the official currency of the Southern African Common Monetary Area: South Africa, Namibia (alongside the Namibian dollar), Lesotho (alongside the Lesotho loti) and Eswatini (alongside the Swazi lilangeni). ^ Alongside Zimbabwean dollar (suspended from 12 April 2009 till 2019 now also known as Real Time Gross Settlement dollar).^ A Common Monetary Area member, used alongside Swazi lilangeni. ![]()
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