South African Currency is known as the Rand. The Rand is divided into cents. The
denominations of Rand are 2,5,10,20,50,100 and 200. South Africa has a very
favorable exchange rate, which makes vacations in this country quite
Banks in South Africa are controlled by the South African Reserve bank or SARB. Some of the other biggest banks in South Africa are the Standard Bank, First National Bank and Absa Bank. The reserve bank has its Supervision department, which controls and regulates actions of the other South African banks. There are also numbers of foreign banks operational in South Africa like ABN Amro, HSBC and State Bank of India.