South African Rand ZAR

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Definition of 'South African Rand ZAR'

ZAR is the three-letter currency code representing the currency of South Africa which is commonly known as the Rand.

The Rand derives its name from the Witwatersrand (Afrikaans for White-Waters-Ridge) which is an area surrounded by Johannesburg under which a large gold reef exists.

The Rand is subdivided into 100 cents using the symbol "c."

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