Bernanke (2013) says that a “central bank is not a regular bank, it is a government agency”. However, my expression that the Bank of Korea is also a government agency from a broad perspective has been regarded very negatively in our nation.
For the time being South African rand is often used on our subcontinent, being legal tender in Lesotho, Namibia and Swaziland. The Rand circulates more widely than this by virtue of simply being convenient and appropriate to use for certain types of payment in many other countries. 11.