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, which accept the rand as legal tender. The value of the rand is influenced by various factors, including South Africa's economic performance, political stability, and global market trends. The currency is traded on international markets, and its exchange rate can fluctuate against major currencies like the US dollar and the euro.