A Rand was worth US$1.40 from the time of its inception in 1961 until 1982 when mounting political pressure combined with sanctions placed against the country started to erode its value. The currency broke above parity with the dollar for the first time in March 1982 and continued to trade between R1 - R1.30 to the dollar until June 1984 By February 1985 it was trading at over R6 per dollar and in July that year foreign exchange trading was suspended for three days to try to stop the devaluation. By the time PW Botha made his Rubicon speech on 15 August 1985 it had weakened to R2,40 per dollar. Well, folks, today we sit at about R10.85 and some days more, the worst been R24 to the dollar..... Any and all donations will be greatly appreciated........LOL
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