Forex Rates in South Africa – Check Live Foreign Exchange Rates

Online Trading » Forex Rates in South Africa – Check Live Foreign Exchange Rates
Forex Rates in South Africa – Check Live Foreign Exchange Rates 2020-08-01T18:45:19+02:00

Forex rate, also known as Foreign exchange rate, is the rate at which one currency will be exchanged for another currency. Forex rates are regarded as the value of one country’s currency in relation to another currency. For example, how many South African rands does it take to buy one US Dollar? As of 1 August 2020, the exchange rate is 17,07, meaning it takes R 17,07 to buy 1 USD. Forex rates don’t stay the same. Some days the rand is R16 against the American Dollar.

What Determines the Forex Rates?

Forex exchange rates are determined in the foreign exchange market. The market open 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday. Currencies are traded 24 hours, 5 days a week except weekends. The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. These are two most popular types of forex rates in South Africa. We also have other types of exchange rates and they are: Free Floating, Restricted Currencies, Currency Peg, Onshore, Offshore and Quotation exchange rates.

Foreign exchange rates

Example of How Exchange Rates Work

Steve is travelling to New York from his home in South Africa, Sandton. Steve wants to make sure that he has 10 000 rand’s of worth of US Dollars when he gets to America. He then visits the local currency exchange shop or use forex rates FNB or forex rates Standard Bank tool and notices that the Currency Exchange Rate 1 Rand = $0.05859 Dollar. Meaning that if he exchanges R10 000, he will get $585.86 in return.

The equitation is rand ÷ exchange rate = dollar

-or-

R10 000 ÷ 0.05859 = $585.86

This is how the forex rates work. So a forex rate today won’t be the same as tomorrow when someone decides to visit New York hoping to exchange 10 000 rand.

With the help of forex exchange rate tools, you can see how much it will cost you to buy a foreign currency.

Forex Rates

How Exchange Rates Affect You

Using the same example above, if Steve is travelling to another country that uses a difference currency, he must plan for exchange rate values. When the South African rand is strong, you can buy more U.S. dollars so that you can have enough money when you visit America. If the rand is weak, it will cost you a lot of money to buy the U.S. dollar. You can’t buy as much foreign currency as you wished. This is one of the ways exchange rates affect you.

You can search on Google to find the exchange rate of the South African rand to foreign exchange for any given day. As mentioned above, you can use forex rates ABSA, forex rates Nedbank, forex rates FNB or forex rates Standard Bank tools to check the forex rates South Africa.

List Of Currency Codes in the World

CountryCurrencyCode
AFGHANISTANAfghaniAFN
ÅLAND ISLANDSEuroEUR
ALBANIALekALL
ALGERIAAlgerian DinarDZD
AMERICAN SAMOAUS DollarUSD
ANDORRAEuroEUR
ANGOLAKwanzaAOA
ANGUILLAEast Caribbean DollarXCD
ANTIGUA AND BARBUDAEast Caribbean DollarXCD
ARGENTINAArgentine PesoARS
ARMENIAArmenian DramAMD
ARUBAAruban FlorinAWG
AUSTRALIAAustralian DollarAUD
AUSTRIAEuroEUR
AZERBAIJANAzerbaijanian ManatAZN
BAHAMAS (THE)Bahamian DollarBSD
BAHRAINBahraini DinarBHD
BANGLADESHTakaBDT
BARBADOSBarbados DollarBBD
BELARUSBelarussian RubleBYN
BELGIUMEuroEUR
BELIZEBelize DollarBZD
BENINCFA Franc BCEAOXOF
BERMUDABermudian DollarBMD
BHUTANNgultrumBTN
BHUTANIndian RupeeINR
BOLIVIA (PLURINATIONAL STATE OF)BolivianoBOB
BOLIVIA (PLURINATIONAL STATE OF)MvdolBOV
BONAIRE, SINT EUSTATIUS AND SABAUS DollarUSD
BOSNIA AND HERZEGOVINAConvertible MarkBAM
BOTSWANAPulaBWP
BOUVET ISLANDNorwegian KroneNOK
BRAZILBrazilian RealBRL
BRITISH INDIAN OCEAN TERRITORY (THE)US DollarUSD
BRUNEI DARUSSALAMBrunei DollarBND
BULGARIABulgarian LevBGN
BURKINA FASOCFA Franc BCEAOXOF
BURUNDIBurundi FrancBIF
CABO VERDECabo Verde EscudoCVE
CAMBODIARielKHR
CAMEROONCFA Franc BEACXAF
CANADACanadian DollarCAD
CAYMAN ISLANDS (THE)Cayman Islands DollarKYD
CENTRAL AFRICAN REPUBLIC (THE)CFA Franc BEACXAF
CHADCFA Franc BEACXAF
CHILEUnidad de FomentoCLF
CHILEChilean PesoCLP
CHINAYuan RenminbiCNY
CHRISTMAS ISLANDAustralian DollarAUD
COCOS (KEELING) ISLANDS (THE)Australian DollarAUD
COLOMBIAColombian PesoCOP
COLOMBIAUnidad de Valor RealCOU
COMOROS (THE)Comoro FrancKMF
CONGO (THE DEMOCRATIC REPUBLIC OF THE)Congolese FrancCDF
CONGO (THE)CFA Franc BEACXAF
COOK ISLANDS (THE)New Zealand DollarNZD
COSTA RICACosta Rican ColonCRC
CÔTE D’IVOIRECFA Franc BCEAOXOF
CROATIAKunaHRK
CUBAPeso ConvertibleCUC
CUBACuban PesoCUP
CURAÇAONetherlands Antillean GuilderANG
CYPRUSEuroEUR
CZECH REPUBLIC (THE)Czech KorunaCZK
DENMARKDanish KroneDKK
DJIBOUTIDjibouti FrancDJF
DOMINICAEast Caribbean DollarXCD
DOMINICAN REPUBLIC (THE)Dominican PesoDOP
ECUADORUS DollarUSD
EGYPTEgyptian PoundEGP
EL SALVADOREl Salvador ColonSVC
EL SALVADORUS DollarUSD
EQUATORIAL GUINEACFA Franc BEACXAF
ERITREANakfaERN
ESTONIAEuroEUR
ETHIOPIAEthiopian BirrETB
EUROPEAN UNIONEuroEUR
FALKLAND ISLANDS (THE) [MALVINAS]Falkland Islands PoundFKP
FAROE ISLANDS (THE)Danish KroneDKK
FIJIFiji DollarFJD
FINLANDEuroEUR
FRANCEEuroEUR
FRENCH GUIANAEuroEUR
FRENCH POLYNESIACFP FrancXPF
FRENCH SOUTHERN TERRITORIES (THE)EuroEUR
GABONCFA Franc BEACXAF
GAMBIA (THE)DalasiGMD
GEORGIALariGEL
GERMANYEuroEUR
GHANAGhana CediGHS
GIBRALTARGibraltar PoundGIP
GREECEEuroEUR
GREENLANDDanish KroneDKK
GRENADAEast Caribbean DollarXCD
GUADELOUPEEuroEUR
GUAMUS DollarUSD
GUATEMALAQuetzalGTQ
GUERNSEYPound SterlingGBP
GUINEAGuinea FrancGNF
GUINEA-BISSAUCFA Franc BCEAOXOF
GUYANAGuyana DollarGYD
HAITIGourdeHTG
HAITIUS DollarUSD
HEARD ISLAND AND McDONALD ISLANDSAustralian DollarAUD
HOLY SEE (THE)EuroEUR
HONDURASLempiraHNL
HONG KONGHong Kong DollarHKD
HUNGARYForintHUF
ICELANDIceland KronaISK
INDIAIndian RupeeINR
INDONESIARupiahIDR
INTERNATIONAL MONETARY FUND (IMF)SDR (Special Drawing Right)XDR
IRAN (ISLAMIC REPUBLIC OF)Iranian RialIRR
IRAQIraqi DinarIQD
IRELANDEuroEUR
ISLE OF MANPound SterlingGBP
ISRAELNew Israeli SheqelILS
ITALYEuroEUR
JAMAICAJamaican DollarJMD
JAPANYenJPY
JERSEYPound SterlingGBP
JORDANJordanian DinarJOD
KAZAKHSTANTengeKZT
KENYAKenyan ShillingKES
KIRIBATIAustralian DollarAUD
KOREA (THE DEMOCRATIC PEOPLE’S REPUBLIC OF)North Korean WonKPW
KOREA (THE REPUBLIC OF)WonKRW
KUWAITKuwaiti DinarKWD
KYRGYZSTANSomKGS
LAO PEOPLE’S DEMOCRATIC REPUBLIC (THE)KipLAK
LATVIAEuroEUR
LEBANONLebanese PoundLBP
LESOTHOLotiLSL
LESOTHORandZAR
LIBERIALiberian DollarLRD
LIBYALibyan DinarLYD
LIECHTENSTEINSwiss FrancCHF
LITHUANIAEuroEUR
LUXEMBOURGEuroEUR
MACAOPatacaMOP
MADAGASCARMalagasy AriaryMGA
MALAWIKwachaMWK
MALAYSIAMalaysian RinggitMYR
MALDIVESRufiyaaMVR
MALICFA Franc BCEAOXOF
MALTAEuroEUR
MARSHALL ISLANDS (THE)US DollarUSD
MARTINIQUEEuroEUR
MAURITANIAOuguiyaMRU
MAURITIUSMauritius RupeeMUR
MAYOTTEEuroEUR
MEMBER COUNTRIES OF THE AFRICAN DEVELOPMENT BANK GROUPADB Unit of AccountXUA
MEXICOMexican PesoMXN
MEXICOMexican Unidad de Inversion (UDI)MXV
MICRONESIA (FEDERATED STATES OF)US DollarUSD
MOLDOVA (THE REPUBLIC OF)Moldovan LeuMDL
MONACOEuroEUR
MONGOLIATugrikMNT
MONTENEGROEuroEUR
MONTSERRATEast Caribbean DollarXCD
MOROCCOMoroccan DirhamMAD
MOZAMBIQUEMozambique MeticalMZN
MYANMARKyatMMK
NAMIBIANamibia DollarNAD
NAMIBIARandZAR
NAURUAustralian DollarAUD
NEPALNepalese RupeeNPR
NETHERLANDS (THE)EuroEUR
NEW CALEDONIACFP FrancXPF
NEW ZEALANDNew Zealand DollarNZD
NICARAGUACordoba OroNIO
NIGER (THE)CFA Franc BCEAOXOF
NIGERIANairaNGN
NIUENew Zealand DollarNZD
NORFOLK ISLANDAustralian DollarAUD
NORTHERN MARIANA ISLANDS (THE)US DollarUSD
NORWAYNorwegian KroneNOK
OMANRial OmaniOMR
PAKISTANPakistan RupeePKR
PALAUUS DollarUSD
PALESTINE, STATE OFNo universal currency
PANAMABalboaPAB
PANAMAUS DollarUSD
PAPUA NEW GUINEAKinaPGK
PARAGUAYGuaraniPYG
PERUNuevo SolPEN
PHILIPPINES (THE)Philippine PesoPHP
PITCAIRNNew Zealand DollarNZD
POLANDZlotyPLN
PORTUGALEuroEUR
PUERTO RICOUS DollarUSD
QATARQatari RialQAR
REPUBLIC OF NORTH MACEDONIADenarMKD
RÉUNIONEuroEUR
ROMANIARomanian LeuRON
RUSSIAN FEDERATION (THE)Russian RubleRUB
RWANDARwanda FrancRWF
SAINT BARTHÉLEMYEuroEUR
SAINT HELENA, ASCENSION AND TRISTAN DA CUNHASaint Helena PoundSHP
SAINT KITTS AND NEVISEast Caribbean DollarXCD
SAINT LUCIAEast Caribbean DollarXCD
SAINT MARTIN (FRENCH PART)EuroEUR
SAINT PIERRE AND MIQUELONEuroEUR
SAINT VINCENT AND THE GRENADINESEast Caribbean DollarXCD
SAMOATalaWST
SAN MARINOEuroEUR
SAO TOME AND PRINCIPEDobraSTN
SAUDI ARABIASaudi RiyalSAR
SENEGALCFA Franc BCEAOXOF
SERBIASerbian DinarRSD
SEYCHELLESSeychelles RupeeSCR
SIERRA LEONELeoneSLL
SINGAPORESingapore DollarSGD
SINT MAARTEN (DUTCH PART)Netherlands Antillean GuilderANG
SISTEMA UNITARIO DE COMPENSACION REGIONAL DE PAGOS “SUCRE”SucreXSU
SLOVAKIAEuroEUR
SLOVENIAEuroEUR
SOLOMON ISLANDSSolomon Islands DollarSBD
SOMALIASomali ShillingSOS
SOUTH AFRICARandZAR
SOUTH GEORGIA AND THE SOUTH SANDWICH ISLANDSNo universal currency
SOUTH SUDANSouth Sudanese PoundSSP
SPAINEuroEUR
SRI LANKASri Lanka RupeeLKR
SUDAN (THE)Sudanese PoundSDG
SURINAMESurinam DollarSRD
SVALBARD AND JAN MAYENNorwegian KroneNOK
SWAZILANDLilangeniSZL
SWEDENSwedish KronaSEK
SWITZERLANDWIR EuroCHE
SWITZERLANDSwiss FrancCHF
SWITZERLANDWIR FrancCHW
SYRIAN ARAB REPUBLICSyrian PoundSYP
TAIWAN (PROVINCE OF CHINA)New Taiwan DollarTWD
TAJIKISTANSomoniTJS
TANZANIA, UNITED REPUBLIC OFTanzanian ShillingTZS
THAILANDBahtTHB
TIMOR-LESTEUS DollarUSD
TOGOCFA Franc BCEAOXOF
TOKELAUNew Zealand DollarNZD
TONGAPa’angaTOP
TRINIDAD AND TOBAGOTrinidad and Tobago DollarTTD
TUNISIATunisian DinarTND
TURKEYTurkish LiraTRY
TURKMENISTANTurkmenistan New ManatTMT
TURKS AND CAICOS ISLANDS (THE)US DollarUSD
TUVALUAustralian DollarAUD
UGANDAUganda ShillingUGX
UKRAINEHryvniaUAH
UNITED ARAB EMIRATES (THE)UAE DirhamAED
UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND (THE)Pound SterlingGBP
UNITED STATES MINOR OUTLYING ISLANDS (THE)US DollarUSD
UNITED STATES OF AMERICA (THE)US DollarUSD
UNITED STATES OF AMERICA (THE)US Dollar (Next day)USN
URUGUAYUruguay Peso en Unidades Indexadas (URUIURUI)UYI
URUGUAYPeso UruguayoUYU
UZBEKISTANUzbekistan SumUZS
VANUATUVatuVUV
VENEZUELA (BOLIVARIAN REPUBLIC OF)BolivarVEF
VIET NAMDongVND
VIRGIN ISLANDS (BRITISH)US DollarUSD
VIRGIN ISLANDS (U.S.)US DollarUSD
WALLIS AND FUTUNACFP FrancXPF
WESTERN SAHARAMoroccan DirhamMAD
YEMENYemeni RialYER
ZAMBIAZambian KwachaZMW
ZIMBABWEZimbabwe DollarZWL
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