The SARB was established on 30 June 1921 to issue, distribute and destroy banknotes and coin. The first banknotes were issued by the SARB on 19 April 1922.
The rand has been legal tender in South Africa since 1961, when it replaced the pound. It takes its name from the Witwatersrand – the ridge on which Johannesburg is built and where most of South Africa’s gold deposits were found.
How and where to sell your coins
The rand is legal tender in the Common Monetary Area, which includes, eSwatini, Lesotho and Namibia.
In 1996 the mandate of the SARB was expanded to include price stability maintenance, one of its main functions remains ensuring a sufficient supply of trusted banknotes and coin.
The Currency Management Department works with the South African Mint Company (RF) Proprietary Limited (SA Mint), which mints coins, and the South African Bank Note Company (RF) Proprietary Limited (SABN), which prints banknotes. Both are subsidiaries of the SARB.
The SARB Act 90 of 1989 provides for the legal tender status of the banknotes and coin issued by the SARB. It also contains provisions relating to the mutilation, reproduction and counterfeiting of South African banknotes and coin.
Learn, experience and play with the SARB currency app.
Our app encourages users to explore, learn and discover everything about South African banknotes, including commemorative banknotes. From the inspiration behind both Mandela series and commemorative banknote, to their technical, design and security features, the app will take you on a fun, educational journey across South Africa’s banknote landscape.
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The reverse of the commemorative banknotes can be scanned to experience the life story of Nelson Mandela, from his humble beginnings in the Eastern Cape to the moment he was inaugurated as South Africa’s first democratically elected president. The app allows users to access the stories on all banknotes even if they only have one commemorative banknote to scan. Another feature on the app is the “play the banknotes” challenge, where users can try to beat the clock by testing their knowledge of South Africa’s banknotes then share their results on social media
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