Exchange GBP to ZAR - Convert Pound to South African rand- Free Online Quote

GBP to ZAR Exchange Rate

Currency Exchange Rates for South African Rand. Currency Information on South African Rand - ZAR— South African rand – R. The foreign exchange currency code for ZAR represents the South African Rand exchange rate.

One South African Rand subdivides into 100 cents; the Rand is legal tender in Namibia, even though they withdrew from the Common Monetary Area between Swaziland, South Africa and Lesotho.

The rand historically was in use in South West Africa, as well as Venda, Bophuthatswana, Transkei and Ciskei, independent states under apartheid rule.

Currency Information on ZAR. Coins are available in denominations of 10, 20 and 50 cants, as well as 1, 2 and 5 rand. Banknotes circulate in denominations of 10, 20, 50, 100 and 200 rand.

he South African currency is the South African Rand (short "R"- ISO-Code ZAR). One Rand is 100 cent (short "c"). The rand replaced the British Pound, as South Africa became a republic in 1961. The official Bank notes in circulation are R200, R100, R50, R20 and R10.

If you look at the pictures carefully you will recognize that the five paper notes illustrate the famous "big-five" of South Africa. The "big-five" are Africa's greatest wild animals. Today R5 and R2 come as coins. Coins 2c and 1c were last manufactured in 2005. Today all sums are rounded up or down to 5 cents.

The R5 coin comes in two basic versions. The old version is in silver colour only, while the latest version is silver and brass coloured, analogical to the 2 Euro coin. Note that when you throw money into a vending machine, it may only accept the latest version of the R5 coin. The name "Rand" is taken from one of the many gold production areas called Witwatersrand, just outside of Johannesburg.

The Rand is also the official currency for Namibia, Swaziland and Lesotho, making it the currency of southern Africa. Like the United States Dollar, the colloquial term for the Rand is "buck", and R1000 is also called a "grand".

The Rand Exchange Rate

South African Rand exchange rate has been developing to the benefit of all overseas visitors in the past last years.

Of course prices in South Africa have gone up because of this inflation, yet for most of the part, you can get brand name products, for a few Dollars or Euros cheaper in South Africa than at home. On the other hand, the decreasing value of the Rand has meant no good for the South African travellers, who want to travel to Europe and Northern America.

It hasn't always been the case, however, that the Rand is so cheap. In June 1973 the Rand was worth 1,49 US-Dollars. Until March 1982 the rand was worth more than the US-Dollar. A story of a close friend of mine illustrates the character of the South African rand very well.

As a child he went on holiday to the United States with his family. When arriving in the US and throughout their holiday, they enjoyed the luxury of a cheap US-Dollar in exchange of the strong rand. When returning to South Africa from vacation, the land exchange had changed to strongly, that the US-Dollars they had left over from their holiday bought more Rand. Today the US Dollar buys round about 8 South African Rand, and the Euro buys nearly 12 Rand.

 

###Convert Pound to South African rand### Convert GBP to ZAR exchange rate. Buy and sell British Pounds to South African rand. Convert ZAR to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to ZAR - Convert Pound to South African rand for a Free Online Quote.

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