South African Rand in Bahraini dinar

ZAR South African Rand

Country of application:
Namibia, South Africa

Coin denominations in circulation:
5, 2, 1 rand, 50, 20, 10, 5 cents.

Denominations of banknotes in circulation:
200, 100, 50, 20 and 10 rand.

History reference:
The name rand (rand) comes from the name of the mountain range, the name of which sounds like the Witwatersrand (in one of the official languages of South Africa, Afrikaans Witwatersrand). This mount...ain range is located in the South African province of Gauteng, which is famous for the largest gold deposits in the country. The South African rand was first introduced into circulation in February 1961, shortly before the founding of the Republic of South Africa. The rand replaced the South African pound at a rate of 2 rand to 1 pound. Up until the early 1970s, the rand was worth about 1.5 rand to the US dollar. However, in the following decades, the rand quickly depreciated, and at the turn of the 21st century and during the Great Recession, it changed significantly. As the political landscape changed in the early 1990s, the rand slowly depreciated to record lows due to uncertainty. The fall was exacerbated when land reform began in 2001. Shortly after the 9/11 attacks, global uncertainty took its toll and the rand plummeted again to 13 rand per US dollar.

BHD Bahraini dinar

Country of application:
Bahrain

Coin denominations in circulation:
5, 10, 25, 50, 100, 1⁄2 (500 fils).

Denominations of banknotes in circulation:
1⁄2, 1, 5, 10, 20 dinars.

History reference:
The Bahraini Dinar is the official currency of Bahrain. Until 1959, the Indian rupee was in circulation in the country. British sovereigns and the Maria Theresa thaler were also used until it was rep...laced by the rupee. The Persian Gulf rupee depended on the Indian rupee. After the Indian rupee depreciated in 1965, the value of the Persian Gulf rupee also fell. As a result, the government of Bahrain decided to introduce its own currency into circulation. For some time in Abu Dhabi, the Bahraini dinar was used as the main currency, until it was replaced by the UAE dirham in 1973. Today, the Bahraini dinar is pegged to the US dollar.