Financial rand: Difference between revisions
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}}</ref> At the same time, the government enacted the exchange controls. Investments in South Africa by foreigners could only be sold for financial rand. | }}</ref> At the same time, the government enacted the exchange controls. Investments in South Africa by foreigners could only be sold for financial rand. | ||
The financial rand system provided for two exchange rates for the [[South African rand|rand]] — one for current account transactions and one for capital account transactions for non-residents.<ref name="Jonsson">{{cite | The financial rand system provided for two exchange rates for the [[South African rand|rand]] — one for current account transactions and one for capital account transactions for non-residents.<ref name="Jonsson">{{cite web | ||
|url=https://www.imf.org/en/Publications/WP/Issues/2016/12/30/Inflation-Money-Demand-and-Purchasing-Power-Parity-in-South-Africa-3266 | |url=https://www.imf.org/en/Publications/WP/Issues/2016/12/30/Inflation-Money-Demand-and-Purchasing-Power-Parity-in-South-Africa-3266 | ||
|format=PDF | |format=PDF | ||
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|volume=48 | |volume=48 | ||
|page=244 | |page=244 | ||
|access-date= | |access-date=26 April 2026}}</ref> Investments made in South Africa by non-residents could only be sold for financial rand, and limitations were placed on the convertibility of financial rand into foreign currencies.<ref name="Roux">{{cite book | ||
|url=https://books.google.com/books?id=XVgNi6X7L_QC&q=%22financial%20rand%22&pg=PA124 | |url=https://books.google.com/books?id=XVgNi6X7L_QC&q=%22financial%20rand%22&pg=PA124 | ||
|title=Everyone's Guide to the South African Economy | |title=Everyone's Guide to the South African Economy | ||