Financial rand 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 place in South Africa in various guises on an uninterrupted basis since the outbreak of World War II, when Great Britain and its dominions implemented the Sterling area.
Ingersoll Rand Company in New York, and in 1888 it combined with Sergeant Drill to form Ingersoll Sergeant Drill Company. Also in 1871, brothers Addison Rand (1841–1900) and Jasper Rand, Jr. (1837–1909) established Rand Drill Company with its main manufacturing plant in Tarrytown, New York. Rand drills cleared New York's treacherous Hell Gate channel and were used in the construction of water aqueducts for New York City and Washington, D.C., and tunnels in Haverstraw and West Point, New York, and in Weehawken, New Jersey. In 1905 Ingersoll-Sergeant Drill Company merged with the Rand Drill Company to form Ingersoll Rand. Ingersoll Rand has