South African pound
South African pound - The currency of the South African Union and later of South Africa between 1825 and 1961. His value was equal to the value of the pound sterling and, like him, he divided into twenty shillings, which in turn was divided into twelve pence. Initially in circulation were British banknotes and coins and banknotes issued by private banks and institutions, and in 1921 the South African Reserve Bank was granted the exclusive right to issue banknotes, and in 1923 also coins. The South African pound was replaced by South African rand in 1961 at a rate of 2 rand = 1 pound.
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