Coins of the South African rand Coins of the South African rand The coins of the South African rand are part of the physical form of South Africa's currency, the South African rand. In 1961, South Africa 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 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 coins bore the forward-facing portrait of Jan van Riebeeck on the obverse. The initial circulation
Currency manipulator Currency manipulator Currency manipulator is a popular term used to indicate countries that manipulate the rate of exchange for purposes of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade or simply a country that intervenes in its foreign exchange market. Currency manipulation or currency intervention is a monetary policy operation which occurs when a government or central bank buys or sells foreign currency in exchange for their own domestic currency, generally with the intention of influencing the exchange rate and trade policy. Policymakers may have different reasons for currency manipulation, such as controlling inflation,