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| Africa Subsaharan |
| SA Rand turns 60 today – here's what R1 could buy you in 1961, compared to now |
| 2021-02-14 |
 [Bus Insider SA] Since the rand was launched sixty years ago, inflation has been sapping its buying power at a rate of 8% a year.The rand was first introduced as a currency in South Africa on 14 February 1961, the year that the country became a republic and Queen Elizabeth ceased to be head of state. British-styled currency (pounds, shillings and pence) were replaced by rands and cents at an exchange rate of approximately two rand for every one pound. (It’s currently R20 a pound.) |
| Posted by:Besoeker |
| #5 "SA Rand"? I thought this was going to be about Sally Rand. |
| Posted by: Mercutio 2021-02-14 13:45 |
| #4 In 1961 the dollar exchanged for 4.23 Swiss Francs. Today it is ..89 fancs for a Dollar. Much worse is on the horizon my friends. |
| Posted by: NoMoreBS 2021-02-14 12:33 |
| #3 Given they've printed over 40 percent of all money ever printed in 2020 here, we're be headed that way soon enough. |
| Posted by: Procopius2k 2021-02-14 11:40 |
| #2 "Bad luck" |
| Posted by: Frank G 2021-02-14 09:00 |
| #1 Who could have possibly predicted such an outcome ? |
| Posted by: Besoeker 2021-02-14 08:52 |