[vc_row][vc_column][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]United States is South Africa’s third largest trading partner and their bilateral trade relations are guided by the Trade and Investment Framework Agreement (TIFA), signed in 1999 and amended in 2012.[/info_list_item][info_list_item list_icon=”Defaults-check”]Since South Africa’s transition to democracy in 1994, the United States and South Africa have enjoyed a solid bilateral relationship. South Africa is a strategic partner of the United States, with strong collaboration relating to health, education, environment, and digital economy. South Africa is the largest U.S. trade partner in Africa, with a total two-way trade valued at $14 billion in 2018. Both governments engage in frequent discussions to increase opportunities for bilateral trade and investment and optimise the business climate.[/info_list_item][info_list_item list_icon=”Defaults-check”]South Africa and the United States belong to a few the same international organisations including the United Nations, International Monetary Fund, World Bank, G-20, and World Trade Organization.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”History of relations” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The two countries established formal relations in 1789 when the US opened a Consulate in Cape Town. Currently both countries are committed to the promotion of international trade, amongst others. Since 1994, several state visits strengthened bilateral relations between the two countries and explored further co-operation.[/info_list_item][info_list_item list_icon=”Defaults-check”]The Bilateral Cooperation Forum (BCF) seeks for expansion of trade and investment, and the deepening of substantive relations in several other spheres. The New Partnership for Africa’s Development (NEPAD) programmes and initiatives are supported by the US.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Bilateral trade” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The US is one of South Africa’s key trading partners with the bilateral trade relationship maintaining consistent expansion since 1994. The US recently already represented an export destination for between 12-15% of all South Africa’s exports and has been the largest foreign direct investor in South Africa, representing some 40% of total FDI since 1994.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”What is a US Dollar and where is it used” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The US Dollar is the official currency of the United States and its territories. It is the most commonly converted currency in the world and is regularly used as a benchmark in the Forex market. As the dominant global reserve currency, it is held by nearly every central bank in the world. The dollar is used as standard currency in the commodity market and has a direct impact on commodity prices.[/info_list_item][info_list_item list_icon=”Defaults-check”]Due to its international acceptance, some countries like Panama and Ecuador use it as an official legal tender, a practice known as dollarization. For other countries the dollar is an accepted alternative form of payment, though not an official currency for the country. Multiple currencies are pegged to the US Dollar.[/info_list_item][info_list_item list_icon=”Defaults-check”]Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins.[/info_list_item][info_list_item list_icon=”Defaults-check”]The US central bank is called the Federal Reserve Bank (commonly referred to as “The Fed”). Common names for the currency include the greenback, buck, green, dough, smacker, bones, dead presidents, scrillas, and paper.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”History of the US Dollar” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The dollar was officially adopted as the money unit of the United States in 1785 when the Continental Congress resolved that the official money unit would contain 375.64 grains of fine silver. The next year that definition further determined that the money of account, corresponding with the division of coins, would proceed in a decimal ratio, with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of a dollar, and dimes at 0.100 of a dollar.[/info_list_item][info_list_item list_icon=”Defaults-check”]The Coinage Act of 1792 created the first U.S. Mint and established the federal monetary system, as well as set denominations for coins specified by their value in gold, silver, and copper. The original American dollar coin was based on the value and look of the Spanish dollar or piece of eight, used widely in Spanish America from the 16th to the 19th centuries.[/info_list_item][info_list_item list_icon=”Defaults-check”]In 1861 the U.S. Treasury issued non-interest-bearing Demand Bills and $10 Demand Bills, featuring Abraham Lincoln. They quickly earned the nickname ‘Greenbacks’ from their colour. A national banking system was established in 1863 and were authorised to issue national currency secured by the purchase of US bonds.[/info_list_item][info_list_item list_icon=”Defaults-check”]Silver coins were suspended by 1806 since most countries had begun to standardise transactions by a gold standard. Since the United States held most of the world’s gold, many countries pegged the value of their currency to the dollar, turning the US dollar into the de facto currency of the world. In 1973 the value of the dollar was finally completely decoupled from gold.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Current Denominations, Abbreviations and Valuations of the US Dollar” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The United States dollar sign is $ and the code USD, also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar. One dollar is divided into 100 cents (Symbol: ¢) or 1000 mills (for accounting purposes and for taxing. Symbol: ₥).[/info_list_item][info_list_item list_icon=”Defaults-check”]The Coinage Act of 1792 created a decimal currency with tenth dollar, one-twentieth dollar and one-hundredth dollar coins, as well as the dollar, half dollar and quarter dollar coins. All these coins are still minted in 2025.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Origin of the Dollar Symbol” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The rand is legal tender in the common monetary area between South Africa, Eswatini, Lesotho and Namibia, although the last three countries have their own currencies attached to the rand’s value. Before 1976 the rand was legal tender in Botswana too.[/info_list_item][info_list_item list_icon=”Defaults-check”]Several forms of paper money were introduced over the years. Currently circulating paper money consists primarily of Federal Reserve Notes that are denominated in United States dollars. As of January 31, 2019, there are approximately $1.7 trillion in circulation, of which $1.65 trillion is in Federal Reserve Notes. Today, USD notes are made from cotton fibre paper and not from most common paper, which is made of wood fibre.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”The Rand and where it is used” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The rand is legal tender in the common monetary area between South Africa, Eswatini, Lesotho and Namibia, although the last three countries have their own currencies attached to the rand’s value. Before 1976 the rand was legal tender in Botswana too.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Origin of the word Rand” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The rand got its name from the Witwatersrand (English “white waters’ ridge”), the ridge upon which Johannesburg is built and where most of South Africa’s gold deposits are mined.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Denominations, Abbreviations and Valuations of the Rand” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]When referring to the currency, the abbreviation is usually upper case “R”, but the name is written “rand” in lower case in both English and Afrikaans. The rand is subdivided into 100 cents (sign: “c”) and its ISO 4217 code is ZAR, from Zuid-Afrikaanse rand (South African rand); the ZA being a historical relic from Dutch and not used in any current context except the country abbreviation.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”History of the South African Rand as currency” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]As a trading centre, multiple currencies circulated throughout South Africa, with the first official currency used the Guilder. During the late 17th century, the Rixdollar was used, the first South African currency to include paper notes. Since 1826, from British occupation, the country used sterling, while other currencies like Spanish dollars, US dollars, French francs, and Indian rupees continued to circulate.[/info_list_item][info_list_item list_icon=”Defaults-check”]The Reserve Bank of South Africa was established as the central bank in 1921 and on 14 February 1961, three months before the Union of South Africa became a republic, the rand was introduced as its official currency. It replaced the South African pound as legal tender, at the rate of two rand to one pound, or 10 shillings to the rand.[/info_list_item][info_list_item list_icon=”Defaults-check”]Coins were introduced in 1961 in denominations of 1⁄2, 1, 21⁄2, 5, 10, 20, and 50 cents, the smaller ones later discontinued. The 2-rand coin was introduced in 1989, followed by 5-rand coins in 1994. To curb counterfeiting, a new 5-rand coin with more security features was released in 2004. The first series of rand banknotes introduced in 1961 was in denominations of 1-, 2-, 10-, and 20-rand.[/info_list_item][info_list_item list_icon=”Defaults-check”]In 1966, a second series was released. All notes bore the image of Jan van Riebeeck. A 1978 series began with denominations of 2-, 5-, 10- and 20-rand, with a 50-rand introduced in 1984. The 1-rand note was replaced by a coin.[/info_list_item][info_list_item list_icon=”Defaults-check”]In the 1990s, the notes were redesigned with images of the Big Five wildlife species and coins were introduced for the 2- and 5-rand. In 1994, 100- and 200-rand notes were introduced. In 2012 a new set of banknotes bearing Nelson Mandela’s image was issued.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”South African Rand rates and currency converter” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]Most currency rankings show that the most popular South Africa Rand exchange rate is the USD to ZAR rate.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”US Dollar rates and currency converters – Brief exchange rate history of the US Dollar to Rand” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]On 28 January 2025 one US dollar traded to 14,59 South African rand and one South African rand to 0,068 US dollar.
Historical exchange rates between the South African rand (ZAR) and the US dollar (USD) between 31 July 2019 and 27 January2020 saw a minimum of one USD to 13.9900 ZAR on 31December 2025, a maximum of one USD to 15.4665 ZAR on 19 August 2019 and an average of one USD to 14.7555 ZAR.[/info_list_item][/info_list][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Brief exchange rate history of the Rand” font_container=”tag:h2|text_align:center” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]The rand has developed into a liquid emerging market currency, most commonly traded against the US dollar. Despite originally enjoying strong value in the ever-changing international economy, the system of Apartheid in South Africa ultimately caused the rand to lose footing on the global market.[/info_list_item][info_list_item list_icon=”Defaults-check”]From the time of its inception in 1961 until late in 1971 one rand traded to US$1.40. thereafter its value fluctuated as various exchange rate dispensations were implemented by the South African authorities. In 1974 the South African authorities delinked the rand from the dollar and introduced a policy of independent managed floating. At the time it was trading at 87 cents to the dollar.[/info_list_item][info_list_item list_icon=”Defaults-check”]Several factors however affected the exchange rate. By the early 1980s, high inflation and mounting political pressure and sanctions due to international opposition to the apartheid system, had started to erode its value. By 1985 it had weakened to R 2.40 per dollar, recovered somewhat between 1986–88, but by the end of 1989, was trading at more than R 2.50 per dollar.[/info_list_item][info_list_item list_icon=”Defaults-check”]By the 1994 general election it had weakened to over R 3.60 to the dollar and by 1999 to over R 6 to the dollar. The rand to dollar exchange in the post-apartheid South Africa had been largely impacted by national and international social, political and economic events.[/info_list_item][info_list_item list_icon=”Defaults-check”]The controversial land reform programme followed in neighbouring country Zimbabwe, as well as the 11 September 2001 attacks, sent the rate to R 13.84 to the dollar in December 2001. This sudden depreciation led to a formal investigation, in turn leading to a dramatic recovery but in 2006 resumed its downward slide.[/info_list_item][info_list_item list_icon=”Defaults-check”]In 1983, the apartheid government abolished the financial rand exchange rate system and key international banks refused to renew credit lines for South Africa, which forced the temporary closure of the foreign-exchange market in the country.[/info_list_item][info_list_item list_icon=”Defaults-check”]In January 2014, the rand slid to R11.25 to the dollar and over a four-day period in December 2015, it dropped over 10% due to a surprise replacement of then Finance Minister Nhlanhla Nene with the little-known David van Rooyen. This further damaged international confidence in the rand, causing an all-time low of R 17.9169 to the US dollar on 9 January 2016.[/info_list_item][/info_list][/vc_column][/vc_row]
