South African pound
1 ZAP = 2 ZAR 1 ZAR = 0.5 ZAP
The South African pound (ISO-4217 code ZAP ) is a historical monetary unit of South Africa, which until 1961 was from 1922 in circulation. It was divided into 20 shillings or 240 pence.
History
In the Cape Colony the pound sterling in 1825 be legal tender. The neighboring Boer republics took over the gold standard based on the pounds and issued its own currency in 1867 with the name of South African Pond out. After the defeat of the South African Republic and the Orange Free State in the Second Boer War in 1902, the pound sterling was also tender in the now Transvaal and Orange Free State called British colonies were pooled Union of South Africa with the Cape Colony and the Colony of Natal, 1910. On June 30, 1921, the South African Reserve Bank was established, the oldest central bank is thus on the African continent. The Bank began on 19 April 1922 with the issue of banknotes of the South African pound in 1923 followed by the first coins. The South African pound was also tender in the mandated territory of South West Africa and from 1932 also in the Bechuanaland, Basutoland and Swaziland.
When Britain left the gold standard in 1931, South Africa followed this step, a short time later. In the period following the South African pound was part of the sterling bloc. With the transformation of South Africa into a republic, was also the changeover to the South African Rand. As of February 14, 1961 1 pound was converted into 2 edge.
Coins and banknotes
Coins were minted in the same denominations and sizes as the simultaneous Coins of the pound sterling, however, is the fineness of the silver coins 0800, in contrast to only 0.500 fine British coins. The coins of ¼, ½ and 1 penny made of copper, the 3 - and 6- pence coins, as well as the 1 -, 2 - and 2 ½ - shilling coins of silver and the ½ - and 1- Sovereign coins of gold.
Banknotes were issued with the values to 10 shillings, 1, 5, 20 and 100 pounds. The 20 -pound banknotes were no longer in print since 1933, whereas in 1943 a 10- pound note was issued. Until 1948, banknotes were bilingual in English and Afrikaans, after that there was value for each stage, two variants in the two languages .