The South African Rand (ZAR) is the official currency of South Africa. It was introduced in 1961, replacing the South African Pound. The Rand is subdivided into 100 cents and is symbolized by "R." It is used in several neighboring countries, including Lesotho, Eswatini, and Namibia. The value of the Rand fluctuates based on various economic factors, including inflation, interest rates, and trade balances. It is traded on international markets and is influenced by global economic conditions. The South African Reserve Bank is responsible for issuing and regulating the currency.