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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.
Slang terms for money often derive from the appearance and features of banknotes or coins, their values, historical associations or the units of currency concerned. Within a language community, some of the slang terms vary in social, ethnic, economic, and geographic strata but others have become the dominant way of referring to the currency and are regarded as mainstream, acceptable language ...
The foreign exchange market ( forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
v. t. e. In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. [ 1] Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. [ 2]
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A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency 's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold . There are benefits and risks to using a fixed exchange rate system.
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