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

Country Currency Code
AFGHANISTAN Afghani AFN
ÅLAND ISLANDS Euro EUR
ALBANIA Lek ALL
ALGERIA Algerian Dinar DZD
AMERICAN SAMOA US Dollar USD
ANDORRA Euro EUR
ANGOLA Kwanza AOA
ANGUILLA East Caribbean Dollar XCD
ANTIGUA AND BARBUDA East Caribbean Dollar XCD
ARGENTINA Argentine Peso ARS
ARMENIA Armenian Dram AMD
ARUBA Aruban Florin AWG
AUSTRALIA Australian Dollar AUD
AUSTRIA Euro EUR
AZERBAIJAN Azerbaijanian Manat AZN
BAHAMAS (THE) Bahamian Dollar BSD
BAHRAIN Bahraini Dinar BHD
BANGLADESH Taka BDT
BARBADOS Barbados Dollar BBD
BELARUS Belarussian Ruble BYN
BELGIUM Euro EUR
BELIZE Belize Dollar BZD
BENIN CFA Franc BCEAO XOF
BERMUDA Bermudian Dollar BMD
BHUTAN Ngultrum BTN
BHUTAN Indian Rupee INR
BOLIVIA (PLURINATIONAL STATE OF) Boliviano BOB
BOLIVIA (PLURINATIONAL STATE OF) Mvdol BOV
BONAIRE, SINT EUSTATIUS AND SABA US Dollar USD
BOSNIA AND HERZEGOVINA Convertible Mark BAM
BOTSWANA Pula BWP
BOUVET ISLAND Norwegian Krone NOK
BRAZIL Brazilian Real BRL
BRITISH INDIAN OCEAN TERRITORY (THE) US Dollar USD
BRUNEI DARUSSALAM Brunei Dollar BND
BULGARIA Bulgarian Lev BGN
BURKINA FASO CFA Franc BCEAO XOF
BURUNDI Burundi Franc BIF
CABO VERDE Cabo Verde Escudo CVE
CAMBODIA Riel KHR
CAMEROON CFA Franc BEAC XAF
CANADA Canadian Dollar CAD
CAYMAN ISLANDS (THE) Cayman Islands Dollar KYD
CENTRAL AFRICAN REPUBLIC (THE) CFA Franc BEAC XAF
CHAD CFA Franc BEAC XAF
CHILE Unidad de Fomento CLF
CHILE Chilean Peso CLP
CHINA Yuan Renminbi CNY
CHRISTMAS ISLAND Australian Dollar AUD
COCOS (KEELING) ISLANDS (THE) Australian Dollar AUD
COLOMBIA Colombian Peso COP
COLOMBIA Unidad de Valor Real COU
COMOROS (THE) Comoro Franc KMF
CONGO (THE DEMOCRATIC REPUBLIC OF THE) Congolese Franc CDF
CONGO (THE) CFA Franc BEAC XAF
COOK ISLANDS (THE) New Zealand Dollar NZD
COSTA RICA Costa Rican Colon CRC
CÔTE D’IVOIRE CFA Franc BCEAO XOF
CROATIA Kuna HRK
CUBA Peso Convertible CUC
CUBA Cuban Peso CUP
CURAÇAO Netherlands Antillean Guilder ANG
CYPRUS Euro EUR
CZECH REPUBLIC (THE) Czech Koruna CZK
DENMARK Danish Krone DKK
DJIBOUTI Djibouti Franc DJF
DOMINICA East Caribbean Dollar XCD
DOMINICAN REPUBLIC (THE) Dominican Peso DOP
ECUADOR US Dollar USD
EGYPT Egyptian Pound EGP
EL SALVADOR El Salvador Colon SVC
EL SALVADOR US Dollar USD
EQUATORIAL GUINEA CFA Franc BEAC XAF
ERITREA Nakfa ERN
ESTONIA Euro EUR
ETHIOPIA Ethiopian Birr ETB
EUROPEAN UNION Euro EUR
FALKLAND ISLANDS (THE) [MALVINAS] Falkland Islands Pound FKP
FAROE ISLANDS (THE) Danish Krone DKK
FIJI Fiji Dollar FJD
FINLAND Euro EUR
FRANCE Euro EUR
FRENCH GUIANA Euro EUR
FRENCH POLYNESIA CFP Franc XPF
FRENCH SOUTHERN TERRITORIES (THE) Euro EUR
GABON CFA Franc BEAC XAF
GAMBIA (THE) Dalasi GMD
GEORGIA Lari GEL
GERMANY Euro EUR
GHANA Ghana Cedi GHS
GIBRALTAR Gibraltar Pound GIP
GREECE Euro EUR
GREENLAND Danish Krone DKK
GRENADA East Caribbean Dollar XCD
GUADELOUPE Euro EUR
GUAM US Dollar USD
GUATEMALA Quetzal GTQ
GUERNSEY Pound Sterling GBP
GUINEA Guinea Franc GNF
GUINEA-BISSAU CFA Franc BCEAO XOF
GUYANA Guyana Dollar GYD
HAITI Gourde HTG
HAITI US Dollar USD
HEARD ISLAND AND McDONALD ISLANDS Australian Dollar AUD
HOLY SEE (THE) Euro EUR
HONDURAS Lempira HNL
HONG KONG Hong Kong Dollar HKD
HUNGARY Forint HUF
ICELAND Iceland Krona ISK
INDIA Indian Rupee INR
INDONESIA Rupiah IDR
INTERNATIONAL MONETARY FUND (IMF) SDR (Special Drawing Right) XDR
IRAN (ISLAMIC REPUBLIC OF) Iranian Rial IRR
IRAQ Iraqi Dinar IQD
IRELAND Euro EUR
ISLE OF MAN Pound Sterling GBP
ISRAEL New Israeli Sheqel ILS
ITALY Euro EUR
JAMAICA Jamaican Dollar JMD
JAPAN Yen JPY
JERSEY Pound Sterling GBP
JORDAN Jordanian Dinar JOD
KAZAKHSTAN Tenge KZT
KENYA Kenyan Shilling KES
KIRIBATI Australian Dollar AUD
KOREA (THE DEMOCRATIC PEOPLE’S REPUBLIC OF) North Korean Won KPW
KOREA (THE REPUBLIC OF) Won KRW
KUWAIT Kuwaiti Dinar KWD
KYRGYZSTAN Som KGS
LAO PEOPLE’S DEMOCRATIC REPUBLIC (THE) Kip LAK
LATVIA Euro EUR
LEBANON Lebanese Pound LBP
LESOTHO Loti LSL
LESOTHO Rand ZAR
LIBERIA Liberian Dollar LRD
LIBYA Libyan Dinar LYD
LIECHTENSTEIN Swiss Franc CHF
LITHUANIA Euro EUR
LUXEMBOURG Euro EUR
MACAO Pataca MOP
MADAGASCAR Malagasy Ariary MGA
MALAWI Kwacha MWK
MALAYSIA Malaysian Ringgit MYR
MALDIVES Rufiyaa MVR
MALI CFA Franc BCEAO XOF
MALTA Euro EUR
MARSHALL ISLANDS (THE) US Dollar USD
MARTINIQUE Euro EUR
MAURITANIA Ouguiya MRU
MAURITIUS Mauritius Rupee MUR
MAYOTTE Euro EUR
MEMBER COUNTRIES OF THE AFRICAN DEVELOPMENT BANK GROUP ADB Unit of Account XUA
MEXICO Mexican Peso MXN
MEXICO Mexican Unidad de Inversion (UDI) MXV
MICRONESIA (FEDERATED STATES OF) US Dollar USD
MOLDOVA (THE REPUBLIC OF) Moldovan Leu MDL
MONACO Euro EUR
MONGOLIA Tugrik MNT
MONTENEGRO Euro EUR
MONTSERRAT East Caribbean Dollar XCD
MOROCCO Moroccan Dirham MAD
MOZAMBIQUE Mozambique Metical MZN
MYANMAR Kyat MMK
NAMIBIA Namibia Dollar NAD
NAMIBIA Rand ZAR
NAURU Australian Dollar AUD
NEPAL Nepalese Rupee NPR
NETHERLANDS (THE) Euro EUR
NEW CALEDONIA CFP Franc XPF
NEW ZEALAND New Zealand Dollar NZD
NICARAGUA Cordoba Oro NIO
NIGER (THE) CFA Franc BCEAO XOF
NIGERIA Naira NGN
NIUE New Zealand Dollar NZD
NORFOLK ISLAND Australian Dollar AUD
NORTHERN MARIANA ISLANDS (THE) US Dollar USD
NORWAY Norwegian Krone NOK
OMAN Rial Omani OMR
PAKISTAN Pakistan Rupee PKR
PALAU US Dollar USD
PALESTINE, STATE OF No universal currency
PANAMA Balboa PAB
PANAMA US Dollar USD
PAPUA NEW GUINEA Kina PGK
PARAGUAY Guarani PYG
PERU Nuevo Sol PEN
PHILIPPINES (THE) Philippine Peso PHP
PITCAIRN New Zealand Dollar NZD
POLAND Zloty PLN
PORTUGAL Euro EUR
PUERTO RICO US Dollar USD
QATAR Qatari Rial QAR
REPUBLIC OF NORTH MACEDONIA Denar MKD
RÉUNION Euro EUR
ROMANIA Romanian Leu RON
RUSSIAN FEDERATION (THE) Russian Ruble RUB
RWANDA Rwanda Franc RWF
SAINT BARTHÉLEMY Euro EUR
SAINT HELENA, ASCENSION AND TRISTAN DA CUNHA Saint Helena Pound SHP
SAINT KITTS AND NEVIS East Caribbean Dollar XCD
SAINT LUCIA East Caribbean Dollar XCD
SAINT MARTIN (FRENCH PART) Euro EUR
SAINT PIERRE AND MIQUELON Euro EUR
SAINT VINCENT AND THE GRENADINES East Caribbean Dollar XCD
SAMOA Tala WST
SAN MARINO Euro EUR
SAO TOME AND PRINCIPE Dobra STN
SAUDI ARABIA Saudi Riyal SAR
SENEGAL CFA Franc BCEAO XOF
SERBIA Serbian Dinar RSD
SEYCHELLES Seychelles Rupee SCR
SIERRA LEONE Leone SLL
SINGAPORE Singapore Dollar SGD
SINT MAARTEN (DUTCH PART) Netherlands Antillean Guilder ANG
SISTEMA UNITARIO DE COMPENSACION REGIONAL DE PAGOS “SUCRE” Sucre XSU
SLOVAKIA Euro EUR
SLOVENIA Euro EUR
SOLOMON ISLANDS Solomon Islands Dollar SBD
SOMALIA Somali Shilling SOS
SOUTH AFRICA Rand ZAR
SOUTH GEORGIA AND THE SOUTH SANDWICH ISLANDS No universal currency
SOUTH SUDAN South Sudanese Pound SSP
SPAIN Euro EUR
SRI LANKA Sri Lanka Rupee LKR
SUDAN (THE) Sudanese Pound SDG
SURINAME Surinam Dollar SRD
SVALBARD AND JAN MAYEN Norwegian Krone NOK
SWAZILAND Lilangeni SZL
SWEDEN Swedish Krona SEK
SWITZERLAND WIR Euro CHE
SWITZERLAND Swiss Franc CHF
SWITZERLAND WIR Franc CHW
SYRIAN ARAB REPUBLIC Syrian Pound SYP
TAIWAN (PROVINCE OF CHINA) New Taiwan Dollar TWD
TAJIKISTAN Somoni TJS
TANZANIA, UNITED REPUBLIC OF Tanzanian Shilling TZS
THAILAND Baht THB
TIMOR-LESTE US Dollar USD
TOGO CFA Franc BCEAO XOF
TOKELAU New Zealand Dollar NZD
TONGA Pa’anga TOP
TRINIDAD AND TOBAGO Trinidad and Tobago Dollar TTD
TUNISIA Tunisian Dinar TND
TURKEY Turkish Lira TRY
TURKMENISTAN Turkmenistan New Manat TMT
TURKS AND CAICOS ISLANDS (THE) US Dollar USD
TUVALU Australian Dollar AUD
UGANDA Uganda Shilling UGX
UKRAINE Hryvnia UAH
UNITED ARAB EMIRATES (THE) UAE Dirham AED
UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND (THE) Pound Sterling GBP
UNITED STATES MINOR OUTLYING ISLANDS (THE) US Dollar USD
UNITED STATES OF AMERICA (THE) US Dollar USD
UNITED STATES OF AMERICA (THE) US Dollar (Next day) USN
URUGUAY Uruguay Peso en Unidades Indexadas (URUIURUI) UYI
URUGUAY Peso Uruguayo UYU
UZBEKISTAN Uzbekistan Sum UZS
VANUATU Vatu VUV
VENEZUELA (BOLIVARIAN REPUBLIC OF) Bolivar VEF
VIET NAM Dong VND
VIRGIN ISLANDS (BRITISH) US Dollar USD
VIRGIN ISLANDS (U.S.) US Dollar USD
WALLIS AND FUTUNA CFP Franc XPF
WESTERN SAHARA Moroccan Dirham MAD
YEMEN Yemeni Rial YER
ZAMBIA Zambian Kwacha ZMW
ZIMBABWE Zimbabwe Dollar ZWL
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