Paisa though as of 2019 coins of denomination of 1 rupee are the lowest value in useThe issuance of the currency is controlled by the Reserve Bank of IndiaThe Reserve Bank manages currency in India and derives its role in currency management on the. INR is the official currency of IndiaThe rupee is subdivided into 100 paise singular. South African Rand Zar Exchange Rate Eurochange Es The rand was introduced in 1961 and takes its name from the Witwatersrand the ridge upon which Johannesburg is built and where most of South Africas gold deposits were found. . Popular North and South America Asia Europe Pacific and Middle East Africa. South African Reserve Bank. South Africa is the 3rd cheapest country in Africa 5 out of 7 Cost of living in South Africa is cheaper. A converter information on the exchange rate as of October 27 2022 source. A more general definition is that a currency is a system of money in common use within a