Dollar to Rand (USD/ZAR) Explained: What is an exchange rate? In finance, an exchange rate whereby one currency (US Dollar) will be exchanged for another currency (South African Rand). An exchange is also regarded as the value of each country’s currency in connection with another country. For example, an interbank exchange rate of 1 dollar to rand means that the US$1 will be exchanged for R14.90. In this context, it is said that the price of one US dollar in relation to Rand is R14.90. If needed, the government can change the exchange rate because they have the authority.
The urban dictionary defines an exchange rate as the price whereby the one country’s currency can be exchanged for another country’s currency. The exchange rate is influenced by, general state of economy, political stability, interest rates, trade balance, inflation rate, quality of governance, internal harmony and high degree of transparency in the conduct of leaders and administrators.
Who determines the exchange rate of United States Dollar to South Africa Rand (USD/ZAR)?
The foreign exchange market determines the exchange rates. The foreign exchange market opens 24/7 weekdays, except on weekends, worldwide where sellers and buyers trade currencies continuously. The phrase spot exchange rate refers to the current exchange rate. So next time when you trade dollar to rand, you will know these terms.
How to check dollar to rand in South Africa?
To check the value of the South African Rand (ZAR), simply go to Google and search for “usd to zar exchange rate” and a table of “Data provided by Morningstar for Currency and Coinbase for Cryptocurrency” will appear. You will be able to see how “1 United States Dollar equals” and type in the amount you want to convert to ZAR. You can also check the rand to dollar using dollar to rand converter online tools.
As of 23 September 2019, some amounts at current USD to ZAR exchange rate were:
- 1 USD = 14.87 ZAR.
- 2 USD = 29.73 ZAR.
- 3 USD = 44.60 ZAR.
- 4 USD = 59.46 ZAR.
- 5 USD = 74.33 ZAR.
- 6 USD = 89.19 ZAR.
- 7 USD = 104.06 ZAR.
- 8 USD = 118.92 ZAR.
- 9 USD = 133.79 ZAR.
Alternative dollar to rand converter tools
There are thousands of currency converter tools you can use online. You can use Bloomberg, OANDA, or XE to check current exchange rate USD(US Dollar) to ZAR (South African Rand) including buying & selling rate, currency converter and historical conversion chart.
Some people who have WordPress sites, use currency converter plugins to keep their readers informed about the exchange rate between America and South Africa. Some people also use currency converter USD to ZAR API or foreign exchange rates and currency conversion API.
Ways to Exchange Currency
If you are planning to travel to the US, you will need to change your ZAR to USD. While you can make your purchases with your debit or credit card, you risk to waste too much money on foreign fees. However, the best way to avoid this is to exchange currency and carry cash around. Below are some of the cheapest ways to buy foreign currency.
- Stop by Your Local Bank
- Visit an ATM
- Purchase traveler’s checks
- Buy Currency at Your Foreign Bank Branch
- Order Currency Online
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Contributing writer at Quick Read Magazine. Loves reading books. Passionate in exploring and cooking local cuisines. Enthusiastic as an amateur cricket player.