The currency used in South Africa is the "South African rand," abbreviated as ZAR. The rand is subdivided into 100 cents and has been the official currency since 1961, replacing the South African pound. The currency's name is derived from the Witwatersrand, a region in South Africa famous for its gold mining. The rand is widely used in the country's economy and plays an essential role in international trade, with its value affected by various economic factors.