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.
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.
Explore, play and discover our currency through the SARB Currency App
The SARB Currency App takes users on a journey of discovery by raising awareness about South African banknotes and coin and the role of the SARB.
The interactive features of the app illustrate how to authenticate banknotes and coin, while various animations cover a range of fascinating topics to help users tackle big questions about the economy and currency-related issues.
The multi-levelled mini-game, ZAR Mania, simulates a macroeconomic effect, on both a business and cash-handling level, while dealing with transactions.
The easy to navigate, relevant and engaging content of the SARB Currency App brings the right balance of excitement and learning to its users.
