Currency Rates for South African Rand
Currency Exchange Rates for South African Rand - Currency Information on ZAR for South Africa – R. The foreign exchange currency code for ZAR represents the South African Rand exchange rate.
One South African Rand subdivides into 100 cents; the Rand is legal tender in Namibia, even though they withdrew from the Common Monetary Area between Swaziland, South Africa and Lesotho.
The rand historically was in use in South West Africa, as well as Venda, Bophuthatswana, Transkei and Ciskei, independent states under apartheid rule.
Send Money Transfer to South Africa. Coins are available in denominations of 10, 20 and 50 cants, as well as 1, 2 and 5 rand. Banknotes circulate in denominations of 10, 20, 50, 100 and 200 rand.
GBP to ZAR
The five paper notes illustrate the famous "big-five" of South Africa. The "big-five" are Africa's greatest wild animals. Today R5 and R2 come as coins. Next there's R1, 50c, 20c, 10c, 5c, 2c, and 1c. Coins 2c and 1c were last manufactured in 2005. Today all sums are rounded up or down to 5 cents.
The R5 coin comes in two basic versions. The old version is in silver colour only, while the latest version is silver and brass coloured, analogical to the 2 Euro coin. The Rand is also the official currency for Namibia, Swaziland and Lesotho, making it the currency of southern Africa. Like the United States Dollar, the colloquial term for the Rand is "buck", and R1000 are also called a "grand. The name "Rand" is taken from one of the many gold production areas called Witwatersrand, just outside of Johannesburg.
The Rand Exchange Rate
The South African rand exchange rate has been developing to the benefit of all oversees visitors in the past last years.
Prices in South Africa have gone up because of this inflation, yet for most of the part you can get brand name products, for a few Dollars or Euros cheaper in South Africa than at home. On the other hand, the decreasing value of the Rand has meant no good for the South African travellers, who want to travel to Europe and Northern America. It hasn't always been the case, however that the Rand is so cheap. In June 1973 the rand was worth 1, 49 US-Dollars. Until March 1982 the rand was worth more than the US-Dollar.
Today the US Dollar buys round about 8 South African Rand, and the Euro buys nearly 12 Rand.
Bank Exchange Rates for South African Rand. The foreign exchange rates for South Africa also known as the ISO code ZAR. Send money transfer online with us with the cheapest options