Coins of the South African rand transactions are rounded to the nearest 10c. A bi-metallic R5 coin with added security features, including a grooved edge and micro-lettering on the reverse, was introduced in 2004. The gold Krugerrand coin is produced in 1/10 oz, 1/4 oz, 1/2 oz and 1 oz denominations. 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
Optimum currency area Optimum currency area In economics, an optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. The underlying theory describes the optimal characteristics for the merger of currencies or the creation of a new currency. The theory is used often to argue whether or not a certain region is ready to become a currency union, one of the final stages in economic integration. An optimal currency area is often larger than a country. For instance, part of the