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South African Rand

South African Rand Rates

For a live quote on the South African Rand, simply fill in your details on the form above and an FSA-regulated currency expert will be in touch with a competitive quote.


Latest South African Rand Rates

Please see our latest exchange rates page for the most up-to-date mid-market rate.


Recent Trading Range

In 2011, the South African Rand traded between 10.23 and 13.22 against the Pound.


Latest South African Rand Exchange Rate News

Please see our news section for the latest currency news affecting worldwide exchange rates. You can also visit our dedicated page on South African Rand Money Transfers, including timescales and information needed to make your transfer.


Overview - ZAR

The South African Rand is the currency used in South Africa and its ISO code is ZAR. The rand is the also currency of the Common Monetary Area between South Africa, Swaziland and Lesotho.

 

The government introduced a mascot, Decimal Dan, "the rand-cent man" to familiarise the populace with the new currency.

 

A rand was worth $1.40 from the time of its inception in 1961 until 1982, when mounting political pressure combined with sanctions placed against the country due to apartheid started to erode its value.

 

As it became clear in the early 1990s that the country was destined for black majority rule and one reform after the other was announced, uncertainty about the future of the country hastened the depreciation of the currency to a rand being worth over $9.00.


This downward slide could be attributed to a range of factors: South Africa's worsening current account deficit, inflation at a five-year high of just under 9%, escalating global risk aversion as investors' concerns over the spreading impact of the sub-prime crisis grew and a general flight to "safe havens", away from the perceived risks of emerging markets.