merrypenny.com

London
 
New York
 
Hong Kong
 

What is ZAR?

South African rand - ZAR.

What is ZAR? It's South African rand, R.

Picture: Money of South Africa.

South African 20 rand banknote, Libhangi lesiLulu leNingizimu Afrika.

ZAR as South African rand

The official currency for South Africa is rand, the South African rand. Rand banknotes are issued in denominations of R 10, R 20, R 50, R 100 and R 200. 1 South African rand is subdivided into 100 cents. Most banks exchange rand and foreign currency. There are certain restrictions placed on importing and exporting SA money and foreign currencies. There are no limits or restrictions for monetary travel between South Africa and Swaziland, Lesotho, Namibia and Botswana.

Currency fact sheet

South African currency fact sheet.
Name South African rand
ISO 4217 code ZAR
Sign R
Symbol R
Coin values 5c, 10c, 20c, 50c, R 1, R 2, R 5
Banknote R 10, R 20, R 50, R 100, R 200
Central bank South African Reserve Bank

More about...

More about the South African rand.

The official currency of South Africa is the ZAR (from Dutch Zuid-Afrikaanse rand). The rand is subdivided into 100 cents and ZAR banknotes are issued in denominations of R 10, R 20, R 50, R 100 and R 200. South African coin values are 5c, 10c, 20c, 50c, R 1, R 2, R 5. Foreign currency can be exchanged at most banks as well as at currency exchange offices that are conveniently located around the country in major cities, at airports and most major hotels. The main banks with branches in South Africa include Absa Bank, Capitec, First National Bank, Nedbank and Standard Bank.

Nelson Mandela on South African money. The first banknotes featuring the face of Nelson Mandela have gone into circulation in South Africa. They are the first South African notes to bear the image of a black person, they replace banknotes with wild animals and rural and industrial scenes. Reserve Bank governor Gill Marcus was the first to use the new banknotes when she spent 160 rand, about $18 (£12) on some nuts, beetroot, a watermelon and a cucumber at her local shop in the capital, Pretoria. She said that South Africa tries to update its currency every seven years for security reasons. The new design includes watermarks and a metal strip, while raised printing was added to assist the visually impaired. Mr Mandela's face is on one side of all the new banknotes, while the "Big Five" animals - lion, leopard, rhino, buffalo and elephant - remain on the reverse.

South African 200 rand banknote.

200 rand banknote of South Africa.

10 cents coin of South Africa, 2008.

10 Cents - Zulu Legend - iNingizimu Afrika.

Exchange rates

What is the rand exchange rate today?

South African Reserve Bank

Previously modeled on the United Kingdom's Bank of England, the South African Reserve Bank (SARB) stands as the monetary authority when it comes to South Africa. Taking on major responsibilities similar to those of other central banks, the SARB is also known as a creditor in certain situations, a clearing bank and major custodian of gold. Above all else, the central bank is in charge of "the achievement and maintenance of price stability". This also includes intervention in the foreign exchange markets when the situation arises. Interestingly enough, the South African Reserve Bank remains a wholly owned private entity with more than 600 shareholders that are regulated by owning less than 1% of the total number of outstanding shares.

Converters and rates

Easy to use currency converters and fresh exchange rates every weekday.

What is ZAR? This is South African money. South African currency is a medium of exchange in countries that use ZAR. Digg further for SA rand by googling for pound to rand exchange rates.

Back to Top