Exchange Rates
South Africa Exchange Rates on exchange-rates.co.za are updated several times a day.
Exchange rates are supplied as is and are for your info only. exchange-rates.co.za and partners can and shall not be held responsible for any loss that may arise from the use of these rates they might differ from the commercial rate you might receive at the banks or foreign exchange bureaus.
| One South African Rand equals | | Last Update @ 2010/07/31, 17:10 Africa/Johannesburg |
| 0.137 United States Dollar | | One United States Dollar equals 7.3 ZAR |
| 0.105 Euro | | One Euro equals 9.52 ZAR |
| 0.087 British Pound | | One British Pound equals 11.44 ZAR |
| 0.152 Australian Dollar | | One Australian Dollar equals 6.6 ZAR |
| 0.141 Canadian Dollar | | One Canadian Dollar equals 7.09 ZAR |
| 0.929 Chinese Yuan | | One Chinese Yuan equals 1.08 ZAR |
| 11.851 Japanese Yen | | One Japanese Yen equals 0.08 ZAR |
| 0.143 Swiss Franc | | One Swiss Franc equals 7.01 ZAR |
| 1.065 Hong Kong Dollar | | One Hong Kong Dollar equals 0.94 ZAR |
| 6.355 Indian Rupee | | One Indian Rupee equals 0.16 ZAR |
| 0.189 New Zealand Dollar | | One New Zealand Dollar equals 5.3 ZAR |
| 0.436 Malaysian Ringit | | One Malaysian Ringit equals 2.29 ZAR |
| 0.187 Singapore Dollar | | One Singapore Dollar equals 5.36 ZAR |
| 4.174 Mauritius Rupee | | One Mauritius Rupee equals 0.24 ZAR |
| 1.005 Namibian Dollar | | One Namibian Dollar equals 1 ZAR |
| 20.58 Nigerian Naira | | One Nigerian Naira equals 0.05 ZAR |
| 0.936 Botswana Pula | | One Botswana Pula equals 1.07 ZAR |
| 4.407 Thai Baht | | One Thai Baht equals 0.23 ZAR |
| Brought to you by Exchange Rates South Africa |
Latest Currency News
Posted by
admin -
January 28, 2010 at 12:25 pm
The movement of the Rand is influenced by multiple factors that are constantly changing. In order to accurately forecast/predict the direction of the Rand, the primary driving force behind the Rand needs to be identified. This, in itself, is a challenging task, as economists more often than not have conflicting and differing views and don’t often reach consensus when forecasting the value of the Rand.
In the past few weeks market participants have once again been surprised by the movement of the Rand. This time bythe shear strength of the currency, resulting in it now being branded as overvalued. This recent Rand strength can,amongst other things, be attributed to dollar weakness and euro weakness due to the financial crisis of certain eu member countries, a strong recovery in the price of commodities, an improvement in global risk appetite and the wide interest rate differential between SA and the rest of the world.
A number of economists have pointed out that a strong Rand has contributed to the disappointing and below expected manufacturing and mining data, mainly due to a weaker exports. On the other side, a strong Rand (ZAR) bodes well for imports.
From a the ordinary man on the streets point of view a strong Rand is positive. It drives inflation lower which in turn increases consumer’s real household income.
Extreme volatility in the Rand can translate into profits or losses over the shorter term and in turn increase therisk in your portfolio. Your portfolio manager should be able to successfully tap into any offshore investment opportunities for better diversification in your assets, but at the same time reduce the inherent risk in the currency market.
Will we be seeing the ZAR trading closer to R8,00 against the dollar by end of 2010 or will the ZAR strengthen what is your opinion
There has been a lot of talking about the fake R200 notes doing the rounds. To assist South Africans and the visitors(world cup soccer visitors in general) we have attached a document detailing the specifics of the R200 note which will be the only valid R200 note in circulation from the beginning of june 2010. Any other R200 will have to be presented at the SARB for verification and exchange after this date. Click on the link below to download a document describing the specific security features of the New South African R200 note.
Only R200 note valid as legal tender from 2010/06/01
For visitors to south africa who are not familiar with south african bank notes and coins. Attached the South African 100 Rand note.
For visitors to south africa who are not familiar with south african bank notes and coins. Attached the South African 50 Rand note.
For visitors to south africa who are not familiar with south african bank notes and coins. Attached the South African 20 Rand note.
For visitors to south africa who are not familiar with south african bank notes and coins. Attached the South African 10 Rand note.
If you hedge your foreign exchange you basically protect your self agains future movements of the exchange rates. An importer for example can fix his exchange rate against future increases of the currency he is using while importing goods. A certain fee is payable to fix your exchange rate at a certain level in the future.
The advantages are that the importer can predict the cost of goods he imports and is protected against weakining local currency. The disadvantage is that it might have been cheaper to buy the foreign currency at the going exchange rate at the time.
The opposite is for exporters who sell in a foreign currency.
Basically hedging is an insurance against volatility in the exchange rates, with the risk that the exchange rate does the opposite as you expect so besides being an insurance it can be seen as a gamble as well.
What is the difference between a pegged exchange rate and a free floating exchange rate ?
A free floating currency exchange rate is allowed to vary against that of other currencies and is determined by the market forces of supply and demand. Exchange rates for such currencies are likely to change almost constantly as quoted on financial markets, mainly by banks, around the world.
A pegged currency maintains a fixed currency exchange rate against other currencies. This rate is often determined by the government or central bank of that currency.
Countries that have immature, potentially unstable economies usually use the pegged system. Developing nations can use this system to prevent out-of control-inflation. The disadvantage of the system is that it can backfire if the value of the currency does not really show the true value of the currecny. A black market may spring up, where the currency will be traded at its market value, disregarding the government’s peg.
A market based exchange rate will change whenever the values of either of the two component currencies change. A currency will tend to become more valuable whenever demand for it is greater than the available supply like in normal markets. It will become less valuable whenever demand is less than available supply.
Growing demand for a currency is due to either an increased demand for money, or an increased speculative demand for money.
The transaction demand for money is highly correlated to the country’s level of business activity, gross domestic product (GDP), and employment levels. The more people there are unemployed, the less the public as a whole will spend on goods and services. Central banks typically have little difficulty adjusting the available money supply to accommodate changes in the demand for money due to business transactions.
The speculative demand for money is much harder for a central bank to accommodate but they try to do this by adjusting interest rates. An investor may choose to buy a currency if the return (that is the interest rate) is high enough. The higher a country’s interest rates, the greater the demand for that currency. It has been argued that currency speculation can undermine real economic growth, in particular since large currency speculators may deliberately create downward pressure on a currency in order to force that central bank to sell their currency to keep it stable (once this happens, the speculator can buy the currency back from the bank at a lower price, close out their position, and thereby take a profit). Speculative demand is the main reason for some currencies fluctuating exchange rates.
In finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency. For example an exchange rate of 7 South African Rand (ZAR, R) to the United States dollar (USD, $) means that ZAR 7 is worth the same as one USD . The foreign exchange market is one of the largest markets in the world. By some estimates, about 3.2 trillion USD worth of currency changes hands every day.
