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South African Rand

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South African Rand
The currency of South Africa. It was introduced in 1961, replacing the South African pound when South Africa became fully independent from the United Kingdom. It was a very valuable currency for most of its early history, but mounting international pressure over apartheid and the uncertainty during reforms since then have greatly weakened it. It has been marked by fairly steady depreciation since the mid-1980s. However, it is a regionally important currency, being used in Namibia and Zimbabwe as well as South Africa.


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For most of the year Zimbabwe has used US dollars, South African rand and other hard currencies for all of its dealings, after the local currency was left worthless by a decade of world-record hyperinflation.
It varies because you don't know where the investors are, and if you convert the currency it could be anything between five and 10 billion South African rand (600 million to 1.
Check out our fundamental and technical outlook on emerging market currencies, including the Mexican peso (MXN), Turkish lira (TRY), South African rand (ZAR), and Singapore dollar (SGD).
 
 
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