The currency in South Africa is the South African Rand, abbreviated as ZAR. It is the official currency and is used throughout the country for all financial transactions. The Rand is subdivided into cents, with one Rand being equal to 100 cents. The currency is important for both domestic and international trade, serving as a means of exchange for goods and services in South Africa's diverse economy. The name "Rand" is derived from the Witwatersrand, the ridge upon which Johannesburg is built, and is historically tied to the country's mining industry, particularly gold mining.