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The Ora (symbol:Φ, ) [1] is the local currency of Orania, an Afrikaner town in South Africa first issued in April 2004. It is pegged at par with the South African rand. [1] The name, recalling that of the town where it circulates, derives from Latin aurum, meaning "gold". [2] The currency is not sanctioned by the South African Reserve Bank.
African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they invaded.
The South African rand is legal tender in the Common Monetary Area member states of Namibia, Lesotho, and Eswatini, with these three countries also having national currencies: (the dollar, the loti and the lilangeni respectively) pegged with the rand at parity and still widely accepted as substitutes.
In 1923, South Africa began to issue its own coins, adopting coins that were identical in size and value to those used in Great Britain: 12 pence (12d) = 1 shilling (1s), and 20s = 1 pound (£1). On 14 February 1961, the Union of South Africa adopted a decimal currency, replacing the pound with the Rand. The term "Tickey" was used as a nickname ...
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GMP per capita (2011) US$19,656 [9] Website. capetown.gov.za. Cape Town[a] is the legislative capital of South Africa. It is the country's oldest city and the seat of the Parliament of South Africa. [12] It is the country's second-largest city, after Johannesburg, and the largest in the Western Cape. [13]
This infobox shows the latest status before this currency was rendered obsolete. The pound (Afrikaans: pond; symbol £, £SA[ 1 ] for distinction) was the currency of the Union of South Africa from the formation of the country as a British Dominion in 1910. It was replaced by the rand in 1961 when South Africa decimalised.
e. The Community Exchange System (CES) is an internet-based global trading network which allows participants to buy and sell goods and services without using a national currency. It may be described as a type of local exchange trading system (LETS) network based on free software. While it can be used as an alternative to traditional currencies ...
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