Financial rand had a previous life, from January 1979 to February 1983. The 1985 crisis coincided with a default (then called a "standstill") on foreign debt by the apartheid government. Financial rand The South African financial rand was the most visible part of a system of capital controls. Although the financial rand was abolished in March 1995, some capital controls remain in place. These capital controls are locally referred to as "exchange controls", although the system has since 1995 moved towards surveillance — recording and reporting to the authorities of foreign currency transactions — rather than control. Capital controls have been in
Paul Rand young age of twenty-three. The cover art for "Direction" magazine proved to be an important step in the development of the "Paul Rand look" that was not as yet fully developed. The December 1940 cover, which uses barbed wire to present the magazine as both a war-torn gift and a crucifix, is indicative of the artistic freedom Rand enjoyed at "Direction"; in "Thoughts on Design" Rand notes that it "is significant that the crucifix, aside from its religious implications, is a demonstration of pure plastic form as well . . . a perfect union of the aggressive vertical (male) and