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Play Online Casino with South African Rand

It is the currency of South Africa and some other countries in the area such as Swaziland, Lesotho and Namibia. It has been accepted by the states that use the same and is therefore used as the common monetary form that is widely utilised in the trade of both goods and services. It is divided into 100 cents, but unlike other currencies globally, South African rand’s decimal is replaced by a comma.

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The currency has been in use for a long time now; this is because it was also used by the south-west African and other individuals such as the Bantustans that lived under the apartheid rule. Three months before the Republic of South Africa was introduced in the year 1961, it was used and endorsed by the union of South Africa as the best way of transaction. And because the denomination of other currencies used decimal, the Decimal Coinage Commission recommended that the Rand used the comma in place of the decimal to break the monotony. The South African pound that was used in the past was replaced then and was accompanied by vigorous campaigns in a bid to make the new currency known. South African Rand is one of the currencies that have been stable over time, but after 1982, the mounting sections affected the value of the rand and fell way below other currencies in the financial markets. The South African rand due to suction devalued until the government took an initiative of stopping foreign exchange in a bid to stop the devaluation of the same. After Britain had exited the European Union, the value of South African rand dropped drastically by about 8 percent. This follows the fact that some of the biggest investors in the country as the Japanese opted out thus affecting foreign exchange.

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