South African Rand in Colombian Peso

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.

COP Colombian Peso

Country of application:
Colombia, Venezuela

Coin denominations in circulation:
50, 100, 200, 500, 1000 dollars.

Denominations of banknotes in circulation:
2000, 5000, 10,000, 20,000, 50,000, 100,000 US dollars.

History reference:
The Colombian Peso is the official currency of the Republic of Colombia. The peso became the Colombian coin in 1810. In 1837, the peso began to replace the real. Then for one peso they gave 8 reais. ...In 1847, Colombia revised the value of the peso, which began to be valued at 10 reais. In 1853, the real was renamed desimo, which means "tenth" in Spanish. In 1903, the Central Bank of Colombia set a fixed rate on the British pound sterling, according to which 5 pesos were equal to 1 pound. In 1931, Great Britain abandoned the gold standard, in the same year the Colombian pesos also moved away from the gold-currency equivalent standard. Later, in different periods of the existence of the state, the peso experienced several devaluations caused by economic crises in the country.