South African Rand (ZAR)
The South African rand is a freely traded emerging market currency and the most liquid in Africa. It circulates across the Common Monetary Area alongside the currencies of Lesotho, Namibia and Eswatini.
The latest available mid-market reference is 1 ZAR = 0.060287 USD. The table below shows the same rate against the other major currencies.
Key facts
Structural details reviewed . Regimes and issuing arrangements can change.
The role of the South African Rand
South Africa is a major exporter of gold, platinum and coal, and the rand is the most liquid African currency. It is often used as a proxy for emerging market risk, so it moves early when sentiment shifts.
A short history
The rand was introduced in 1961 and replaced the pound. Exchange controls were gradually relaxed after 1994, and the rand floats.
What moves the South African Rand
Gold and platinum prices, the commodity cycle, South African Reserve Bank policy and global risk appetite. The rand is often sold first when investors reduce exposure to emerging markets.
Live ZAR exchange rate
| Currency | 1 ZAR equals |
|---|---|
| US Dollar (USD) | 0.060287 |
| Euro (EUR) | 0.05425 |
| British Pound (GBP) | 0.045361 |
| Japanese Yen (JPY) | 9.6165 |
| Chinese Yuan (CNY) | 0.4031 |
| Indian Rupee (INR) | 5.6580 |
| Canadian Dollar (CAD) | 0.085846 |
| Australian Dollar (AUD) | 0.087979 |
| Swiss Franc (CHF) | 0.050149 |
Mid-market rate updated . Banks and transfer providers add a margin. About our rates.
ZAR conversion pages
Other currency profiles
South African Rand questions
What is the South African Rand?
South African Rand (ZAR) is used in the following countries and territories: South Africa, with Lesotho, Namibia and Eswatini pegged at par through the Common Monetary Area. Central bank: South African Reserve Bank. Exchange rate regime: free float.
Which countries use the South African Rand?
The South African Rand is used in the following countries and territories: South Africa, with Lesotho, Namibia and Eswatini pegged at par through the Common Monetary Area.
What affects the South African Rand exchange rate?
Gold and platinum prices, the commodity cycle, South African Reserve Bank policy and global risk appetite. The rand is often sold first when investors reduce exposure to emerging markets.