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The legend is inscribed with "KRUGERRAND" and the gold weight. The Krugerrand ( / ˈkruːɡərænd /; [ 1] Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. [ 2][ 3] The name is a compound of Paul Kruger, the former ...
In June 2016, nine currencies were legal tender in Zimbabwe but it was estimated 90% of transactions were in US dollars and 5% in Rand. [76] In April 2023, the government announced the introduction of digital currencies backed by gold reserves. The digital money will be allowed to be transferred for people and business as a form of payment via ...
The 1978 series began with denominations of 2, 5, 10, and 20 rand, with a 50 rand introduced in 1984. This series had only one language variant for each denomination of note. Afrikaans was the first language on the 2, 10, and 50 rand, while English was the first on the 5 and 20 rand. A coin replaced the 1 rand note.
Rates for a 15-year mortgage stand at an average 6.00% for purchase and 6.07% for refinance, down 33 basis points from 6.33% for purchase and 27 basis points from 6.34% for refinance this time ...
A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money ), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency . The World Gold Council estimates that all the ...
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation. [ 1][ 2 ...
v. t. e. In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. [ 1]
The city of Johannesburg located in South Africa was founded as a result of the Witwatersrand Gold Rush which resulted in the discovery of some of the largest natural gold deposits in recorded history. The gold fields are confined to the northern and north-western edges of the Witwatersrand basin, which is a 5–7 km (3.1–4.3 mi) thick layer ...