The currency of South Africa is the South African rand, abbreviated as ZAR. The rand is subdivided into 100 cents and is named after the Witwatersrand ("ridge of white waters"), the area in South Africa where gold was discovered, leading to the country's economic development. The currency symbol is "R," and it is used in various denominations, including coins and banknotes. The rand has been influenced by global economic factors and domestic issues, and it plays a crucial role in international trade and investment. The currency is widely traded in Forex markets and is the most commonly used in Southern Africa.