Although the South African rand is the official currency of South Africa, three additional nations also accept it as legal tender.
South Africa is a member of the Common Monetary Area , a monetary union that also includes Namibia, Lesotho, and Eswatini.Furthermore, the rand is legal tender in Namibia, Lesotho, and Eswatini since it can be used in all four of the member countries.
Botswana officially utilises the pula as currency, even though it is a member of the Southern African Customs Union alongside the CMA countries.Using the rand informally or unofficially may be considered legal tender in other countries. The CMA authorities have opted to cease handling electronic EFT payments and collections inside the organisation.
Account holders in South Africa can currently transfer money electronically to accounts in Lesotho, Eswatini, and Namibia.
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