Making International Money Transfers in South African Rand
FTT Global offers a competitive exchange rate that is better than your bank’s rate. Plus, we offer a simple, speedy online service and our expert, friendly support team is here for you 24/7 should you need any help. Register with us today and convert or transfer your money immediately.
Sign R / Code ZAR
Do you need to make or receive South African Rand payments or transfer South African Rand between accounts? We can help, and save you money.
About the South African Rand
The Rand is the official currency of South Africa as well as the currency of the Common Monetary Area between South Africa, Swaziland and Lesotho. The Rand is also still legal tender in Namibia although it withdrew from the Common Monetary Area.
The South African currency takes its name from Witwatersrand, the name of the white waters ridge onto which the city of Johannesburg is built and where most of the South African gold deposits were found.
The Rand was introduced on 14 February 1961 replacing the South African Pound as legal tender at a rate of 2 Rand = 1 Pound or 10 Shillings to the Rand. In 1921 the Reserve Bank of South Africa was established and took over the control of the new national currency.
Previously the printed bank notes of South Africa were imported from the United Kingdom as there were no printing facilities available in the country. Shortly after the South African Rand was introduced, a bank note factory was established. Between the Rand’s inception and 1982 it had a high value. However, following 1982 the rand entered a phase of constant devaluation. In 2001 the currency dropped to its lowest value. It has since recovered.
- Coins are issued in denominations of 5c, 10c, 20c, 50c, R 1, R 2 and R5. The banknotes are issued in denominations of R 10, R 20, R 50, R 100 and R200.
- The most popular South African Rand exchange rate is the ZAR to USD rate.
Our most popular ZAR Money Transfers
At FTT Global we accommodate international money transfers in over 30 different foreign currencies. The South African Rand is one of our most popular currency exchanges with the following transfers accounting for many of these trades.
- South African Rand to Pounds Sterling
- South African Rand to USA Dollar
- South African Rand to Euro
- South African Rand to Japanese Yen
- South African Rand to Thai Baht
- South African Rand to Canadian Dollar
- South African Rand to Singapore Dollar
- South African Rand to New Zealand Dollar
- South African Rand to Philippine Peso
- South African Rand to Indian Rupees