ZARSouth African RandSouth African Rand (ZAR)
The South African rand is the official currency of South Africa and also plays a role within the Common Monetary Area. The South African Reserve Bank issues banknotes and oversees the country's monetary system. ZAR is the ISO code used in international data, and one rand is divided into 100 cents.
- ISO code
- ZAR
- Symbol
- ZAR
- Region
- Africa
- Currency type
- Fiat currency
- Exchange system
- ZAR has a floating exchange-rate arrangement. It also serves as the anchor for separate one-to-one currencies within the Common Monetary Area, which does not make those currencies identical to ZAR.
- Last reviewed
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Quick facts
ZAR at a glance
Currency profile
How ZAR works
The South African rand is the official currency of South Africa and also plays a role within the Common Monetary Area. The South African Reserve Bank issues banknotes and oversees the country's monetary system. ZAR is the ISO code used in international data, and one rand is divided into 100 cents.
ZAR conversions are used for travel, trade, commodities, regional business and cross-border payments in southern Africa. CurrencyHub calculates the displayed amount from a dated reference rate and identifies both directions of the pair. The rate available to a customer may differ by provider, timing and payment method. Keeping ZAR visible is important because the rand symbol can otherwise be confused with currency symbols used in other markets.
- ZAR is divided into 100 cents and replaced the South African pound when decimal currency began in 1961.
- The rand also anchors one-to-one currency relationships within the Common Monetary Area.
Context
Why this currency matters
ZAR is one of Africa's most actively traded currencies and an important regional reference. Its exchange rates are widely compared with USD, EUR and GBP as well as currencies in neighboring economies. The rand also interacts with monetary arrangements in parts of southern Africa, but legal-tender and acceptance rules should not be inferred from a conversion result alone. Country context, pair direction and the provider date remain important when the number is reused. Local payment availability should always be checked separately from currency value.
Monetary framework
Exchange arrangement
ZAR has a floating exchange-rate arrangement. It also serves as the anchor for separate one-to-one currencies within the Common Monetary Area, which does not make those currencies identical to ZAR.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for ZAR
South African Reserve Bank established
The Reserve Bank was established and became the country's central monetary authority.
South African Reserve Bank - historyRand introduced
The rand replaced the South African pound as part of decimalization at two rand per pound.
South African Reserve Bank - historyCommon Monetary Area agreement established
The regional monetary arrangement formalized currency relationships among participating southern African economies.
South African Reserve Bank - history
Usage and economy
How ZAR is used
- Domestic prices, payroll and payments in South Africa.
- Regional trade and comparisons with NAD, BWP, SZL and other southern African currencies.
Country currency guides
Banknotes and coins
ZAR currency units
The South African Reserve Bank documents the rand banknotes used in circulation.
The South African Reserve Bank documents the rand and cent circulation coin system.
One South African Rand unit is recorded with 2 decimal places and uses Cent as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
Currency topics
FAQ
ZAR questions
Why is ZAR important in Africa?
ZAR combines a large domestic economy, active international trading and a regional role in southern African monetary arrangements.
Which currency did the rand replace?
The rand replaced the South African pound in 1961 when South Africa adopted decimal currency.
Are NAD and ZAR the same currency?
No. NAD and ZAR have one-to-one official parity in the Common Monetary Area but retain separate codes and issuers.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.