For the most part, the rand’s value has been linked to the price of gold, South Africa’s main export during its early days. In recent years, the rand is somewhat correlated with gold prices as the South African economy still relies on gold exports. By the late 1980s and early 1990s, the political landscape was changing. Nelson Mandela, a leader of the anti-apartheid struggle, was released from prison after 27 years on February 11, 1990. The South African rand (ZAR) is the official atfx review currency of the nation of South Africa, with the symbol ZAR being the currency abbreviation for the rand in foreign exchange markets.
The real-time conversion rate of Zerebro (ZEREBRO) to ZAR is $0.4672 for every 1 ZEREBRO. The table below shows the live rate to convert different amounts, such as 5 ZEREBRO into ZAR. The U.S. dollar is the currency most used in international transactions.
All South African rand Exchange Rates
First minted in 1967, krugerrands are gold coins that raise the profile of the South African gold trade in international markets and make it possible for individuals to own gold as an investment. To this day they are among the most frequently traded gold coins in the world market. Our currency rankings show that the most popular South African Rand exchange rate is the ZAR to USD rate. The currency code for Rand is ZAR, and the currency symbol is R.
United States Dollar to
As of September 2024, the rand was worth about 0.05 USD. Through the RMA agreement, the South African rand Black Edge remained legal tender in all member nations and circulated alongside the national money of the member nations. This sudden depreciation in 2001 led to a formal investigation and a dramatic recovery. By the end of 2002, the currency was trading under R9 to the dollar again, and by the end of 2004, it was trading under R5.70. The currency softened somewhat in 2005, trading around R6.35 to the dollar at the end of the year.
Set an alert now, and we’ll tell you when it gets better. And with our daily summaries, you’ll never miss out on the latest news. The krugerrand and the rand are both South African but they are not the same currencies.
We partner with leading data providers to bring you the latest and most accurate prices for all major currencies, cryptocurrencies and precious metals. When the rand was introduced in 1961, its value was linked to the price of gold. After the end of apartheid, the rand’s value began to fluctuate more as South How to buy crypto with apple pay Africa’s economy became more closely tied to the global economy. Up until the early 1970s, the rand was worth around R1.5 per U.S. dollar (USD). However, over the ensuing decades, the rand exchange rate has depreciated, meaning it costs more rands to buy one U.S. dollar.
ZEREBRO / ZAR Conversion Tables
This table lists the live conversion rate of Zerebro (ZEREBRO) into United States Dollar (USD) for many of the most popular multiples. Wise is a Money Service Business registered with FinCen. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. The rand was one of the emerging market currencies that was hit hard by the 2008 financial crisis and the coronavirus pandemic.
- The South African rand, which is abbreviated ZAR, is the national currency of South Africa.
- The recovery was short-lived; by the end of 1989, the rand was trading at more than R2.50 per dollar.
- This table lists the current conversion rate of Zerebro (ZEREBRO) into many of the most popular fiat currencies and the largest cryptocurrencies.
- The name is derived from the word ‘Witwatersrand’, which means ‘ridge of white waters’.
- Check live rates, send money securely, set rate alerts, receive notifications and more.
Zerebro to United States Dollar Data
Their value is based entirely on their gold content and fluctuates with the price of gold. Up until the 1990s, the rand was illustrated with images of white Europeans from South Africa’s colonial past. Post-apartheid banknotes featured photos of the country’s treasured wildlife. In 2012, a banknote with an image of former President Nelson Mandela was issued as the first in a series. Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered. Schedule international transfers and manage foreign exchange risk across 130 currencies in 190+ countries.
At the start of 2006, however, the currency resumed its rally and, as of 19 January 2006, was trading under R6 to the dollar again. However, the rand weakened significantly during the second and third quarters of 2006 (i.e., April through September). Gold is the country’s most exported product, representing 14% of total exports in 2021 or $20.1 billion. South Africa exports other commodities, including palladium and iron ore, predominately to China, Europe, and the United States.However, major world developments have also determined ZAR’s price trajectory.
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