The history of South African money is a long and complex one that has evolved over centuries. From the earliest coins issued by the Dutch East India Company in 1782 to the current Rand, South Africa has seen many changes in its currency. Here is a timeline of South African money from 1782 to 2020.
1782-1900: South African Money Timeline
1782: The first coins issued in South Africa were issued by the Dutch East India Company. These coins were minted in Amsterdam and circulated in the Cape Colony.
1825: The Cape of Good Hope adopted the British pound as its official currency.
1835: The first South African coins were issued. These were the half-penny, penny, two pence and sixpence coins.
1874: The Cape of Good Hope adopted the sterling pound as its official currency.
1890: The South African Republic adopted the British pound as its official currency.
1900: The South African pound was introduced as the official currency of the Union of South Africa.
1900-2020: South African Money Timeline
1961: The South African rand was introduced as the official currency of the Republic of South Africa.
1965: The South African rand was pegged to the US dollar at a rate of 1 Rand to 1.45 US dollars.
1975: The South African rand was devalued and pegged to a basket of currencies.
2002: The South African rand was revalued and pegged to a basket of currencies.
2005: The South African rand was revalued and pegged to the Euro.
2020: The South African rand remains the official currency of South Africa.
The history of South African money has been a long and complex one that has seen many changes over the centuries. From the earliest coins issued by the Dutch East India Company in 1782 to the current Rand, South Africa has seen many changes in its currency. This timeline of South African money from 1782 to 2020 provides a glimpse into the evolution of South African currency.
