{"id":222464,"date":"2022-04-20T11:04:48","date_gmt":"2022-04-20T09:04:48","guid":{"rendered":"https:\/\/www.myza.co.za\/reserve-bank-celebrates-100-years-since-first-banknote\/"},"modified":"2022-04-20T11:04:48","modified_gmt":"2022-04-20T09:04:48","slug":"reserve-bank-celebrates-100-years-since-first-banknote","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/reserve-bank-celebrates-100-years-since-first-banknote\/","title":{"rendered":"Reserve Bank celebrates 100 years since first banknote"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.sanews.gov.za\/sites\/default\/files\/2012\/images\/newsstorytemplate\/202204\/moneyrands.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The South African Reserve Bank on Tuesday celebrated 100 years since issuing its first banknotes.<\/p>\n<p>The banknotes were issued 10 months after the SARB was established on 30 June 1921, the Bank said in a statement.<\/p>\n<p>\u201cPrior to that, South Africa had no monetary authority. However, the commercial banks were responsible for issuing banknotes into circulation.<\/p>\n<p>\u201cFrom 19 April 1922, the SARB was granted the sole authority to produce, issue and destroy South African currency, and is entrusted with ensuring the availability and integrity of the South African currency,\u201d the SARB said.<\/p>\n<p>It said it has invested significantly in the currency\u2019s design and security features to protect the public from counterfeiting, noting that its banknotes are highly regarded globally.<\/p>\n<p>The security features embedded in South Africa&#8217;s currency represent the most innovative advancements in global design and technology.<\/p>\n<p>\u201cFor South Africa, its currency is a symbol of national pride and reflects the country\u2019s cultural heritage, economic industries and the big five animals,\u201d said the bank. &nbsp;<\/p>\n<p>In 1961, the rand replaced the South African pound.<\/p>\n<p>\u201cThe rand takes its name from the Witwatersrand (white waters\u2019 ridge), the ridge where most of South Africa&#8217;s gold deposits were found in Johannesburg,\u201d said the bank.<\/p>\n<p>From time to time, the SARB issues banknotes and coins to commemorate key events or milestones in the country. In 2018, the SARB was the first central bank to issue commemorative banknotes in all five denominations. These commemorative banknotes and coins are placed into circulation for everyday use and maintain their face value. \u2013&nbsp;<strong>SAnews.gov.za<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South African Reserve Bank on Tuesday celebrated 100 years since issuing its first banknotes. The banknotes were issued 10 months after the SARB was established on 30 June 1921, the Bank said in a statement. \u201cPrior to that, South Africa had no monetary authority. However, the commercial banks were responsible for issuing banknotes into [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":222465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[38678],"class_list":{"0":"post-222464","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-south-africa","8":"tag-sanews","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/04\/reserve-bank-celebrates-100-years-since-first-banknote.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/222464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=222464"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/222464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/222465"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=222464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=222464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=222464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}