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What does R stand for?

R stands for South African Rand (national currency)

This definition appears very frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

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Samples in periodicals archive:

31 August 2012 Mondi Group - 2012 Interim Dividend euro/sterling Exchange Rate Mondi announced on 7 August 2012 that Mondi Limited and Mondi plc will pay their respective dividends on 18 September 2012 as follows: Mondi Limited Mondi Limited will pay its dividend in South African rand cents.
8 Kyodo The Tokyo branch of Germany's Commerzbank was ordered Friday by Japan's financial watchdog to clarify the responsibilities of its management for making a below-market quotation last autumn for the South African rand which resulted in settlements at an inappropriate rate.
Since January, inflation has slowed rapidly after the country shelved use of the local currency and adopted various currencies such as the dollar, South African rand, British pound and Botswana pula.
Further afield, the Australian dollar has crashed 25% against the pound in the past three months - "there's never been a better time to buy your dream home in Australia," says Towner - and the South African rand, like the currencies of all commodity-based economies, is exposed and falling sharply.
What the Pound Buys Abroad also shows sterling is up 15 per cent in a year against the South African rand and 19 per cent in two years against the Jamaican dollar.
Chief culprit is the strength of the national currency, the Ilangeni, which is pegged to the South African rand currency through the region's Common Monetary Area arrangement.