Coins of the South African rand coins of the Republic were the following: The coins initially had the same size as the former South African coins. All except the and 1 cent coins were in silver. The previous South African farthing coin (¼d) and half-a-crown (s) were not continued in decimal currency. In addition, two bullion coins with denominations of 1 rand and 2 rand were issued, replacing the gold half-pound and pound coins introduced in 1952. Both the pound and the rand gold coins matched the specifications of the British half-sovereign and sovereign (minted, among others, at the Pretoria branch mint until 1932), including the
Currency war seen as an attractive solution to unemployment when other options, like increased public spending, are ruled out due to high public debt, or when a country has a balance of payments deficit which a devaluation would help correct. A reason for preferring devaluation common among emerging economies is that maintaining a relatively low exchange rate helps them build up foreign exchange reserves, which can protect against future financial crises. A state wishing to devalue, or at least check the appreciation of its currency, must work within the constraints of the prevailing International monetary system. During the 1930s, countries had relatively