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
Henry Hale Rand Rand started his career at the International Shoe Company (which became Furniture Brands International) in 1929. He joined its Board of Directors in 1945. From 1948 to 1955, he served as its Vice President. Upon the death of his brother, Edgar E. Rand, who had served as President from 1950 to 1955, Rand served as President until 1962. Under his leadership, the company was the world's largest shoe manufacturer. Rand was elected as the President of the Webb School in 1950. Additionally, he served on the Board of Trustees of his alma mater, Vanderbilt University. Rand married Dorothy Bolin. They