South African rand as Daan Desimaal). This was accompanied by a radio jingle, to inform the public about the new currency. One Rand was worth US$1.40 from the time of its inception in 1961 until late 1971. Its value thereafter fluctuated as various exchange rate dispensations were implemented by the South African authorities. By the early-1980s, high inflation and mounting political pressure combined with sanctions placed against the country due to international opposition to the apartheid system started to erode its value. The currency broke above parity with the dollar for the first time in March 1982, and continued to trade between R
Currency Act Ill c. 35) for New York to issue £120,000 in paper currency for public but not private debts. Parliament extended these concessions to the other colonies in 1773 (13 Geo. III c. 57) by amending the Currency Act 1764, permitting the colonies to issue paper currency as legal tender for public debts. According to historian Jack Sosin, the British government had made its point: The Currency Acts created tension between the colonies and the mother country, and were a contributing factor in the coming of the American Revolution. In all of the colonies except Delaware, the Acts were considered to