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Possible Answers:
RAND.
Last seen on: Daily Crossword Club Crossword Tuesday, 19 September 2023
Random information on the term “South African currency”:
The South African financial rand was the most visible part of a system of capital controls. Although the financial rand was abolished in March 1995, some capital controls remain in place. These capital controls are locally referred to as “exchange controls”, although the system has since 1995 moved towards surveillance — recording and reporting to the authorities of foreign currency transactions — rather than control.
Capital controls have been in place in South Africa in various guises on an uninterrupted basis since the outbreak of World War II, when Great Britain and its dominions implemented the Sterling area.
Following the 1960 Sharpeville massacre, South Africa experienced significant outflows of foreign exchange on the capital account of the balance of payments and instituted an additional level of capital controls, known as the Blocked Rand system. This had the principal effect of blocking outflows of capital to the other countries in the Sterling Area, notably Britain.
South African currency on Wikipedia
Random information on the term “RAND”:
The Cold War was a period of geopolitical tension between the United States and the Soviet Union and their respective allies, the Western Bloc and the Eastern Bloc. The term cold war is used because there was no large-scale fighting directly between the two superpowers, but they each supported opposing sides in major regional conflicts known as proxy wars. The conflict was based on the ideological and geopolitical struggle for global influence by these two superpowers, following their roles as the Allies of World War II that led to victory against Nazi Germany and Imperial Japan in 1945. Aside from the nuclear arms race and conventional military deployment, the struggle for dominance was expressed via indirect means, such as psychological warfare, propaganda campaigns, espionage, far-reaching embargoes, sports diplomacy, and technological competitions like the Space Race.
The Western Bloc was led by the United States, as well as a number of other First World nations that were generally liberal democratic but tied to a network of often authoritarian, Third World states, most of which were the European powers’ former colonies.[B] The Eastern Bloc was led by the Soviet Union and its Communist Party, which had an influence across the Second World and was also tied to a network of authoritarian states. The Soviet Union had a command economy and installed similarly Communist regimes in its satellite states. United States involvement in regime change during the Cold War included support for anti-communist and right-wing dictatorships, governments, and uprisings across the world, while Soviet involvement in regime change included the funding left-wing parties, wars of national liberation and revolutions around the world. As nearly all the colonial states underwent decolonization and achieved independence in the period from 1945 to 1960, many became Third World battlefields in the Cold War.