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Jul 19, 2021 | FinGlobal The South African Reserve Bank celebrated its centenary on the 30th of June, 2021. With this momentous milestone in mind, let’s reflect on 100 years of SARB, as well as the history of South African money. History of SARB The South African Reserve Bank (SARB) is the central bank of SA, established in 1921 by the Currency and Bank Act of 1920 to counter abnormal fiscal conditions post World War I. SARB is the oldest central bank in Africa, and it opened for business on 30 June 1921, issuing its first notes to the public on 19 April 1922. At the time, banknotes issued to the public by commercial banks needed to be backed by gold, but when the price of gold in the UK climbed, a profit could be turned by converting banknotes into gold in SA and then selling it in London.

United statesUnited kingdomSouth africaCity ofRepublic of south africaSouth africansSouth africanGerhard rissikWilliam henry cleggChris stalsTito mboweniHerbert bakerJohannes postmusGill marcusGordon leithLesetja kganyago