1.
Central bank
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A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries, Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists, prior to the 17th century most money was commodity money, typically gold or silver. However, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia. The Song dynasty was the first to issue generally circulating paper currency, in 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade. The Bank of Amsterdam, established in the Dutch Republic in 1609, is considered to be the forerunner to modern central banks. The Wisselbanks innovations helped lay the foundations for the birth and development of the banking system that now plays a vital role in the worlds economy. Along with a number of local banks, it performed many functions of a central banking system. Lucien Gillard calls it the European guilder, and Adam Smith devotes many pages to explaining how the bank guilder works, the model of the Wisselbank as a state bank was adapted throughout Europe, including the Bank of Sweden and the Bank of England. Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the worlds oldest central bank, the lenders would give the government cash and also issue notes against the government bonds, which could be lent again. A Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue banknotes. The £1. 2M was raised in 12 days, half of this was used to rebuild the Navy and these modern central banking functions evolved slowly through the 18th and 19th centuries. The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was accused by the bullionists of causing the exchange rate to fall from over issuing banknotes. Nevertheless, it was clear that the Bank was being treated as an organ of the state, henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position, thorntons process of monetary expansion anticipated the theories of Knut Wicksell regarding the cumulative process which restates the Quantity Theory in a theoretically coherent form. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, many consider the origins of the central bank to lie with the passage of the Bank Charter Act of 1844. Under this law, authorisation to issue new banknotes was restricted to the Bank of England, at the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt
2.
South Africa
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South Africa, officially the Republic of South Africa, is the southernmost country in Africa. South Africa is the 25th-largest country in the world by land area and it is the southernmost country on the mainland of the Old World or the Eastern Hemisphere. About 80 percent of South Africans are of Sub-Saharan African ancestry, divided among a variety of ethnic groups speaking different Bantu languages, the remaining population consists of Africas largest communities of European, Asian, and multiracial ancestry. South Africa is a multiethnic society encompassing a variety of cultures, languages. Its pluralistic makeup is reflected in the recognition of 11 official languages. The country is one of the few in Africa never to have had a coup détat, however, the vast majority of black South Africans were not enfranchised until 1994. During the 20th century, the black majority sought to recover its rights from the dominant white minority, with this struggle playing a role in the countrys recent history. The National Party imposed apartheid in 1948, institutionalising previous racial segregation, since 1994, all ethnic and linguistic groups have held political representation in the countrys democracy, which comprises a parliamentary republic and nine provinces. South Africa is often referred to as the Rainbow Nation to describe the multicultural diversity. The World Bank classifies South Africa as an economy. Its economy is the second-largest in Africa, and the 34th-largest in the world, in terms of purchasing power parity, South Africa has the seventh-highest per capita income in Africa. However, poverty and inequality remain widespread, with about a quarter of the population unemployed, nevertheless, South Africa has been identified as a middle power in international affairs, and maintains significant regional influence. The name South Africa is derived from the geographic location at the southern tip of Africa. Upon formation the country was named the Union of South Africa in English, since 1961 the long form name in English has been the Republic of South Africa. In Dutch the country was named Republiek van Zuid-Afrika, replaced in 1983 by the Afrikaans Republiek van Suid-Afrika, since 1994 the Republic has had an official name in each of its 11 official languages. Mzansi, derived from the Xhosa noun umzantsi meaning south, is a name for South Africa. South Africa contains some of the oldest archaeological and human fossil sites in the world, extensive fossil remains have been recovered from a series of caves in Gauteng Province. The area is a UNESCO World Heritage site and has termed the Cradle of Humankind
3.
Lesotho
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Lesotho, officially the Kingdom of Lesotho, is an enclaved, landlocked country in southern Africa completely surrounded by South Africa. It is just over 30,000 km2 in size and has a slightly over two million. Its capital and largest city is Maseru, previously known as Basutoland, Lesotho declared independence from the United Kingdom on 4 October 1966. It is a member of the United Nations, the Commonwealth of Nations, the name Lesotho translates roughly into the land of the people who speak Sesotho. About 40% of the population lives below the poverty line of US$1.25 a day. The original inhabitants of the now known as Lesotho were the San people. Examples of their art can be found in the mountains throughout the area. The present Lesotho, then called Basutoland, emerged as a single polity under King Moshoeshoe I in 1822, Moshoeshoe, a son of Mokhachane, a minor chief of the Bakoteli lineage, formed his own clan and became a chief around 1804. Casalis, acting as translator and providing advice on foreign affairs, helped to set up diplomatic channels and acquire guns for use against the encroaching Europeans and the Griqua people. Trekboers from the Cape Colony showed up on the borders of Basutoland and claimed land rights, beginning with Jan de Winnaar. As more Boers were moving into the area tried to colonise the land between the two rivers, even north of the Caledon, claiming that it had been abandoned by the Sotho people. Moshoeshoe subsequently signed a treaty with the British Governor of the Cape Colony, Sir George Thomas Napier and these outraged Boers were suppressed in a brief skirmish in 1848. In 1851 a British force was defeated by the Basotho army at Kolonyama, after repelling another British attack in 1852, Moshoeshoe sent an appeal to the British commander that settled the dispute diplomatically, then defeated the Batlokoa in 1853. In 1854 the British pulled out of the region, and in 1858 Moshoeshoe fought a series of wars with the Boers in the Free State–Basotho War, the last war in 1867 ended when Moshoeshoe appealed to Queen Victoria, who agreed to make Basutoland a British protectorate in 1868. Moshoeshoe died on 11 March 1870, marking the end of the traditional era and he was buried at Thaba Bosiu. In the early years of British rule between 1871 and 1884, Basutoland was treated similarly to territories that had been forcefully annexed. This led to the Gun War in 1881, Basutoland gained its independence from Britain and became the Kingdom of Lesotho in 1966. In January 1970, the ruling Basotho National Party lost the first post-independence general elections, Prime Minister Leabua Jonathan refused to cede power to the Basotho Congress Party, declared himself Tona Kholo, and imprisoned the BCP leadership
4.
Vending machine
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The first modern vending machines were developed in England in the early 19th century and dispensed postcards. The earliest known reference to a machine is in the work of Hero of Alexandria. His machine accepted a coin and then dispensed holy water, when the coin was deposited, it fell upon a pan attached to a lever. The lever opened a valve which let some water flow out, the pan continued to tilt with the weight of the coin until it fell off, at which point a counterweight snapped the lever up and turned off the valve. Coin-operated machines that dispensed tobacco were being operated as early as 1615 in the taverns of England, the machines were portable and made of brass. An English bookseller, Richard Carlile, devised a newspaper dispensing machine for the dissemination of banned works in 1822, simeon Denham was awarded British Patent no.706 for his stamp dispensing machine in 1867, the first fully automatic vending machine. The first modern coin-operated vending machines were introduced in London, England in the early 1880s, the machine was invented by Percival Everitt in 1883 and soon became a widespread feature at railway stations and post offices, dispensing envelopes, postcards, and notepaper. The Sweetmeat Automatic Delivery Company was founded in 1887 in England as the first company to deal primarily with the installation, the first vending machine in the U. S. was built in 1888 by the Thomas Adams Gum Company, selling gum on New York City train platforms. This idea spawned a new type of mechanical device known as the trade stimulators. Some products need to be prepared to become available, for example, tickets are printed or magnetized on the spot, and coffee is freshly concocted. One of the most common form of vending machine, the snack machine, the main example of a vending machine giving access to all merchandise after paying for one item is a newspaper vending machine found mainly in the U. S. and Canada. It contains a pile of identical newspapers, after a sale the door automatically returns to a locked position. The success of such machines is predicated on the assumption that the customer will be honest, and need only one copy. The profit margins in the candy business can be quite high – gumballs, for instance, can be purchased in bulk for 2 cents a piece. Gumballs and candy have a long shelf life, enabling vending machine operators to manage many machines without too much time or cost involved. In addition, the machines are inexpensive compared to soft drink or snack machines. Many operators donate a percentage of the profits to charity so that locations will allow them to place the machines for free, in the past, cigarettes were commonly sold in the United States through these machines, but this is increasingly rare due to concerns about underage buyers. Sometimes a pass has to be inserted in the machine to prove ones age before a purchase can be made, in the United Kingdom, legislation banning them outright came into effect on October 1,2011
5.
Swaziland
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Swaziland, officially the Kingdom of Eswatini, is a sovereign state in Southern Africa. It is neighboured by Mozambique to its northeast and by South Africa to its north, west and south, the country and its people take their names from Mswati II, the 19th-century king under whose rule Swazi territory was expanded and unified. At no more than 200 kilometres north to south and 130 kilometres east to west, despite its size, its climate and topography are diverse, ranging from a cool and mountainous highveld to a hot and dry lowveld. The population is primarily ethnic Swazis whose language is Swati and they established their kingdom in the mid-18th century under the leadership of Ngwane III, the present boundaries were drawn up in 1881. After the Anglo-Boer War, Swaziland was a British protectorate from 1903 until 1967 and it regained its independence on 6 September 1968. The country is a monarchy, ruled by iNgwenyamaiNgwenyama Mswati III since 1986. He is head of state and appoints the prime ministers. Elections are held five years to determine the House of Assembly majority. The current constitution was adopted in 2005, Swaziland is a developing country with a small economy. Its GDP per capita of $9,714 means it is classified as a country with a lower-middle income, as a member of the Southern African Customs Union and Common Market for Eastern and Southern Africa, its main local trading partner is South Africa. Swazilands currency, the lilangeni, is pegged to the South African rand, Swazilands major overseas trading partners are the United States and the European Union. The majority of the employment is provided by its agricultural. Swaziland is a member of the Southern African Development Community, the African Union, the Commonwealth of Nations, the Swazi population faces major health issues, HIV/AIDS and, to a lesser extent, tuberculosis are serious challenges. As of 2013, Swaziland has a life expectancy of 50 years. The population of Swaziland is fairly young with an age of 20.5 years. The present population growth rate is 1. 195%, Swaziland is well known for its culture. Umhlanga, held in August/September and incwala, the kingship dance held in December/January, are the nations most important events, artifacts indicating human activity dating back to the early Stone Age, around 200,000 years ago, have been found in the Kingdom of Swaziland. Prehistoric rock art paintings date from c.25,000 BC, the earliest known inhabitants of the region were Khoisan hunter-gatherers
6.
Algerian dinar
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The dinar is the currency of Algeria and it is subdivided into 100 centime. The name dinar is derived from the Roman denarius. The santeem come from French centime, since Algeria was under French administration from 1830 to 1962 The dinar was introduced on 1 April 1964, the obverses showed the emblem of Algeria, while the reverses carried the values in Eastern Arabic numerals. In later decades, coins were issued sporadically with various commemorative subjects, however, the 1 and 2 santeem were not struck again, whilst the 5,10 and 20 santeem were last struck in the 1980s. In 1992, a new series of coins was introduced consisting of 1⁄4, a 200 dinar bi-metallic coin was issued in 2012 to commemorate Algerias 50th anniversary of independence. The 10,20,50,100, and 200 dinar coins are bimetallic, coins in general circulation are 5 dinars and higher. Nonetheless, prices are quoted in santeem in everyday speech. The first series of banknotes issued in 1964 consisted of 5,10,50 and 100 dinar denominations. In 1970500 dinar notes were added, followed by 1000 dinar in 1992, the 100 dinar note is being replaced by coins. 200,500, and 1000 dinar notes are in circulation, the 1998 dated 500 and 1000 dinar notes have an additional vertical holographic strip on obverse
7.
Egyptian pound
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The Egyptian pound is the currency of Egypt. It is divided into 100 piastres, or ersh, or 1,000 millimes, the Egyptian pound is frequently abbreviated as LE or L. E. which stands for livre égyptienne. E£ and £E are commonly used on the internet, the name Genēh is derived from the Guinea coin, which had almost the same value of 100 piastres at the end of the 19th century. In 1834, a Khedival Decree was issued providing for the issuing of an Egyptian currency based on a base, i. e. based on gold. The Egyptian pound, known as the geneih, was introduced, the piastre continued to circulate as 1⁄100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, and the piastre was divided into tenths and these tenths were renamed milliemes in 1916. The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settlement of internal transactions, eventually this led to Egypt using a de facto gold standard between 1885 and 1914, with E£1 =7.4375 grams pure gold. At the outbreak of World War I, the Egyptian pound was pegged to the British pound sterling at EG£0.975 per GB£1. Egypt remained part of the Sterling Area until 1962, when Egypt devalued slightly and switched to a peg to the United States dollar and this peg was changed to 1 pound =2.55555 dollars in 1973 when the dollar was devalued. The pound was devalued in 1978 to a peg of 1 pound =1.42857 dollars. However, until 2001, the float was tightly managed by the Central Bank of Egypt and foreign exchange controls were in effect. The Central Bank of Egypt voted to end the regime and allowed the pound to float freely on 3 November 2016. The Egyptian pound was used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an independent emirate between 1942 and 1951. The National Bank of Egypt issued banknotes for the first time on 3 April 1899, the Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt in 1961. Several unofficial popular names are used to refer to different values of Egyptian currency and these include nekla for 2 milliemes, tarifa for 5 milliemes, shelen for 5 piastres, bariza for 10 piastres, and reyal for 20 piastres. Since the piaster and millieme are no legal tender, the smallest denomination currently minted being the 50-piaster coin. A few have survived to refer to pounds, bariza now refers to a ten-pound note and reyal can be used in reference to a 20-pound note. Different sums of EGP have special nicknames, for example,1,000 EGP baku pack,1,000,000 EGP arnab rabbit,1,000,000,000 EGP feel elephant
8.
Moroccan dirham
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The dirham, plural, is the currency of Morocco. The plural form is pronounced darahim, although in French and English dirhams is commonly used and its ISO4217 code is MAD. It is subdivided into 100 santimat, the dirham is issued by the Bank Al-Maghrib, the central bank of Morocco. Before the introduction of a modern coinage in 1882, Morocco issued copper coins denominated in falus, from 1882, the dirham became a subdivision of the Moroccan rial, with 50 Mazunas =10 dirham =1 rial. When most of Morocco became a French protectorate in 1912 it switched to the Moroccan franc, the dirham was reintroduced on 16 October 1960. It replaced the franc as the unit of currency but, until 1974. In 1974, the replaced the franc. In 1960, silver 1 dirham coins were introduced and these were followed by nickel 1 dirham and silver 5 dirham coins in 1965. In 1974, with the introduction of the santim, a new coinage was introduced in denominations of 1,5,10,20 and 50 santimat and 1 dirham. The 1 santim coins were aluminium, the 5 up to 20 santimat were minted in brass, cupro-nickel 5 dirham coins were added in 1980 and changed to a bi-metal coin in 1987. The bi-metal coins bear two year designations for the issue date—1987 in the Gregorian calendar and the 1407 in the Islamic calendar, the 1 santim was only minted until 1987 when new designs were introduced, with a ½ dirham replacing the 50 santimat without changing the size or composition. The new 5 dirham coin was bimetallic, as was the 10 dirham coin introduced in 1995, cupro-nickel 2 dirham coins were introduced in 2002. In 2011, a new series of coins has been issued, the first notes denominated in dirham were overprints on earlier franc notes, in denominations of 50 dirhams and 100 dirhams. In 1965, new notes were issued for 5,10 and 50 dirhams,100 dirham notes were introduced in 1970, followed by 200 dirham notes in 1991 and 20 dirham notes in 1996. 5 dirham notes were replaced by coins in 1980, with the same happening to 10 dirham notes in 1995, in mid-October 2009, Bank Al-Maghrib issued four million 50-dirham banknotes to commemorate the banks 50th anniversary. The commemorative note measures 147 x 70 mm and features the portraits of Kings Mohammed VI, Hassan II, the back of the notes features the headquarters of Bank Al-Maghrib in Rabat. The speech delivered in 1959 by Mohammed V at the opening of Bank Al-Maghrib is microprinted on the back, in December 2012, Bank-Al Maghrib issued a 25-dirham banknote to commemorate the 25th anniversary of banknote production at the Moroccan State Printing Works, Dar As-Sikkah. It is the first banknote in the world to be printed on Durasafe, the front of the commemorative note features an intaglio vignette and a watermark of King Mohammed VI, and a magenta-green color shift security thread
9.
Sahrawi peseta
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The Sahrawi peseta is the currency of the partially recognized Sahrawi Arab Democratic Republic. It is divided in 100 céntimos, although coins with this denomination have never been minted, the official international currency code is EHP. The first Sahrawi pesetas were minted in 1990, but they were not adopted as the coin of Western Sahara until 1997. As it is not a currency and not circulating, the exchange rate is not really realistic. Despite this, the Sahrawi peseta was pegged at par to the Spanish peseta and, when the latter was phased out for the euro, non-commemorative coins are supposedly designated for circulation. The denominations are,1,2,5,50,100,200 and 500 pesetas, there have also been commemorative emissions in copper, silver and gold, as some of those shown here, Spanish peseta Moroccan dirham Sahrawi Arab Democratic Republic
10.
Tunisian dinar
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The dinar is the currency of Tunisia. It is subdivided into 1000 milim or millimes, the name dinar is derived from the Roman denarius, used in the Africa province, the antic territory of Carthage, modern day Tunisia. The dinar was introduced in 1960, having been established as a unit of account in 1958 and it replaced the franc at a rate of 1000 francs =1 dinar. The dinar did not follow the devaluation of the French franc in 1958, instead a peg to the United States dollar of 1 dinar =2.38 dollars was established which was maintained until 1964, when the dinar devalued to 1 dinar =1.90 dollars. This second rate was held until the dollar was devalued in 1971, Tunisia had a historically low inflation. The dinar was less volatile in 2000–2010 than the currencies of its neighbors, Egypt. Inflation was 4. 9% in fiscal year 2007–08 and 3. 5% in fiscal year 2008–09, in 1960, aluminium 1,2 and 5 millime and brass 10,20,50 and 100 millime coins were introduced. The 1 and 2 millimes were last issued in 1990 and 1983 respectively, in 1968, nickel ½ dinar coins were introduced, replaced by smaller, cupro-nickel pieces in 1976, when cupro-nickel 1 dinar coins were also introduced. Bimetallic 5 dinar coins were introduced in 2002, on 3 November 1958, banknotes were introduced by the Central Bank of Tunisia in denominations of ½,1 and 5 dinars. The designs of these denominations were changed with a series of notes dated 1-6-1965, a 10-dinar note dated 1-6-1969 was issued on 2 January 1970. The last ½-dinar notes were dated 1973-10-15 whilst the last 1-dinar notes were dated 1980-10-15, 20-dinar notes dated 1980-10-15 were introduced on 26 December 1984. 30-dinar notes were issued between 1997 and 2011, 50-dinar notes dated 2008 were issued on 25 July 2009. On 8 November 2005, a version of the frequently used 10-dinar note was issued. Tunisians sometimes do not use the division, dinar, when mentioning prices of goods. Accordingly, one dinar and a half, is referred to as khomstach en miya. This applies to all prices below 2 dinars,50 dinar is often referred to as khamsin alf. This convention is used even for higher prices, for example 70,000 dinars would be called sabin maliun, francs is also still heard from time to time,1000 of them colloquially representing a single dinar. It is an offence in Tunisia to import or export dinar
11.
Burundian franc
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The franc is the currency of Burundi. It is nominally subdivided into 100 centimes, although coins have never issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued, the franc became the currency of Burundi in 1916, when Belgium occupied the former German colony and replaced the German East African rupie with the Belgian Congo franc. Burundi used the currency of Belgian Congo until 1960, when the Rwanda, Burundi began issuing its own francs in 1964. There are plans to introduce a currency, a new East African shilling. In 1965, the Bank of the Kingdom of Burundi issued brass 1 franc coins, in 1968, Bank of the Republic of Burundi took over the issuance of coins and introduced aluminum 1 and 5 francs and cupro-nickel 10 francs. The 5 and 10 francs have continuous milled edges, second types of the 1 and 5 franc coins were introduced in 1976, featuring the coat of arms. In 2011 new 10 and 50 franc coins were introduced and these were followed in 1964 and 1965 by regular issues in the same denominations by the Banque du Royaume du Burundi. In 1966, notes for 20 francs and above were overprinted by the Bank of the Republic of Burundi, regular issues of this bank began in denominations of 10,20,50,100,500,1,000 and 5,000 francs. 10 francs were replaced by coins in 1968,2,000 franc notes were introduced in 2001, followed by 10,000 francs in 2004. Photographer Kelly Fajacks image of school kids in Burundi was used on the back of the Burundian 10,000 franc note, on 3 January 2006, the franc was valued at 925 per $1. On January 1,2008, the franc was valued at 1,129.40 per US dollar, on January 1,2009, the franc was valued at 1,234.33 per U. S. dollar. On 10 July, the franc was valued at 1,587.60 per US dollar Economy of Burundi
12.
South African rand
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The South African rand is the currency of South Africa. The rand is subdivided into 100 cents, unlike the US dollar, the decimal separator between a rand and cent is expressed by a comma. The ISO4217 code is ZAR, from Dutch Zuid-Afrikaanse Rand, the rand is the currency of the Common Monetary Area between South Africa, Swaziland, Lesotho, and Namibia. Historical users of the South African rand included South West Africa, the rand takes its name from the Witwatersrand, the ridge upon which Johannesburg is built and where most of South Africas gold deposits were found. The cent and rand was introduced in the then Union of South Africa on 14 February 1961, a Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings, and pence, submitting its recommendation on 8 August 1958. It replaced the South African pound as legal tender, at the rate of 2 rand to 1 pound, the government introduced a mascot, Decimal Dan, the rand-cent man. This was accompanied by a jingle, to inform the public about the new currency. By February 1985, it was trading over R2 per dollar, by the time that State President PW Botha made his Rubicon speech on 15 August 1985, it had weakened to R2.40 per dollar. The currency recovered somewhat between 1986–88, trading near the R2 level most of the time and even breaking beneath it sporadically. The recovery was short-lived, however, and by the end of 1989, a host of local and international events influenced the currency after that, most notably the 1994 democratic election which had it weaken to over R3. This sudden depreciation in 2001 led to an investigation, which in turn led to a dramatic recovery. By the end of 2002, the currency was trading under R9 to the dollar again, the currency softened somewhat in 2005, and was trading around R6.35 to the dollar at the end of the year. At the start of 2006, however, the currency resumed its rally, however, during the second and third quarters of 2006, the rand weakened significantly. In sterling terms, it fell from around 9. 5p to just over 7p, late in 2007, the rand rallied modestly to just over 8p, only to experience a precipitous slide during the first quarter of 2008. This downward slide could be attributed to a range of factors, South Africas worsening current account deficit, the rand depreciation was exacerbated by the Eskom electricity crisis, which arose from the utility being unable to meet the countrys rapidly growing energy demands. By the end of 2014, the rand had weakened to R15.05 per dollar, the rapid drop in value was stemmed when the President back-tracked and announced that the better-known previous Minister of Finance, Pravin Gordhan, would instead be appointed to the post. By mid-January, economists were speculating that the rand could expect to see further volatility for the rest of 2016, by 29 April, it reached its highest performance over the previous 5 months, exchanging at a rate of 14. Coins were introduced in 1961 in denominations of 1⁄2,1, 2 1⁄2,5,10,20, in 1965, 2-cent coins replaced the 2 1⁄2-cent coins
Eswatini (alongside South African rand)
