Countries that use the South African Rand
The South African Rand is an official national currency and used only in South Africa. 1 Rand is devided into 100 Cents.
1.00 South African Rand = 0.078 US Dollar
Exchange rate history 1000 ZAR in USD
South African Rand as currency
Currencies with a fixed exchange rate to the South African Rand
Currency reserves for the South African Rand
According to the International Monetary Fund, the total broad money (M3) amounted to ZAR 3,358.96 billion at the end of 2017. For currency hedging, reserves were held in a total amount of 738.55 billion Rands. This corresponds to a ratio of 1:4.5. Or in other words: 1 of 5 Rands is deposited with a countervalue, which is internationally already above average.
Approximately 72.2 billion Rands (9.8%) of the currency reserves exist in gold reserves, the remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions.Worldwide currency and gold reserves
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