Exchange Rate Dollar to Rand helps you convert US Dollar to South African Rand from any amount. There are many FREE online tools that you can use to check the exchange rate dollar to rand. In this article, you will learn more about the Dollar vs Rand and how to convert USD to Rand.
Convert 1 USD to ZAR
ALSO READ: How much is 500 dollars in South African Rands?
What is Exchange Rate Dollar to Rand?
The Exchange Rate Dollar to Rand, is an exchange rate at which the US Dollar (USD) currency will be exchanged for the South African Rand (ZAR). The exchange rate USD to ZAR is also regarded as the value of one country’s currency in relation to another currency. In this scenario, it is the USD to ZAR in South Africa.
When you check the dollar rand exchange, you must always know that an exchange rate is the value of a country’s currency (United States) vs. that of another country (South Africa) or economic zone.
According to investopedia.com, most exchange rates are free-floating and will rise or fall based on supply and demand in the market. Some currencies are not free-floating and have restrictions.
Dollar to Rand
In the below section, you will learn about the relationship between the United States of America and South Africa.
Bilateral relations and trade between United States (USD) and South Africa (ZAR) – monetary currencies and exchange rates.
According to SA Shares, United States is South Africa’s third-largest trading partner and their bilateral trade relations are guided by the Trade and Investment Framework Agreement (TIFA), signed in 1999 and amended in 2012.
Since South Africa’s transition to democracy in 1994, the United States and South Africa have enjoyed a solid bilateral relationship. South Africa is a strategic partner of the United States, with strong collaboration in the areas of health, education, environment, and digital economy.
The United States first opened a consulate in Cape Town in 1799, and in 1929 established formal diplomatic relations with South Africa after the United Kingdom recognized South Africa’s autonomy within the British Empire.
According to State.Gov, South Africa is the largest U.S. trade partner in Africa, with a total two-way goods trade of $14 billion in 2018.
South Africa and the United States belong to a number of the same international organizations, including the United Nations, International Monetary Fund, World Bank, G-20, and World Trade Organization.
This history is important to know if you are eager to learn more about the USD to ZAR.
History of the United States Dollar
The United States dollar coin was originally based on the worth and appearance of the eight-dollar coin or the Spanish dollar, commonly used in Spanish America between the 16th and 19th centuries. The United States Mint, established in 1792, issued the first dollar coins. The coins were similar in scale and composition to the Spanish dollar minted in Peru and Mexico.
This information is important to know when you convert Dollars to Rands so that you understand the history of the US Dollar and why it’s one of the strongest currencies in the world.
According to corporatefinanceinstitute, the currencies currently printed are $1, $2, $5, $10, $20, $50, and $100. In 1946, the printing of notes higher than $100 was stopped, and their circulation was formally stopped in 1969.
Now you can easily check how much is 100 dollars in rands or how much is 1 dollar to rand and thanks to the bilateral relations and trade between Unites States USD and South Africa ZAR.
History of the South African Rand (ZAR)
The South African Rand was introduced on February 14, 1961, replacing Round Sterling as legal tender, at two Rand = 1 Pound 10 shillings. 1961 was also the year the country became a republic and left the Commonwealth of Nations following a whites-only referendum.
Brief Exchange Rate Dollar to Rand History
One rand was worth US$1.40 from the time of its inception in 1961 until late 1971, and the US dollar became stronger than South African currency for the first time on Monday, 15 March 1982. Its value thereafter fluctuated as various exchange rate dispensations were implemented by the South African authorities.
The first series of rand banknotes was introduced in 1961 in denominations of 1-, 2-, 10-, and 20-rand, with similar designs and colours to the preceding pound notes to ease the transition. All notes bore the image of Jan van Riebeeck.
On 18 July 2018, a special commemorative series of banknotes was released in commemoration of the 100th anniversary of Nelson Mandela’s birth. This series includes notes of all denominations, 10-, 20-, 50-, 100- and 200-rand.
USD to ZAR Live Exchange Rate Chart
US Dollar to Rand
For example, if the rand-dollar exchange rate is R14, it means that to buy one US dollar, you would have to pay R14.
It’s important to know how much the dollar will cost you – especially if you are going to travel to these countries. It will help you plan how much you will spend during your time abroad.
This helps us know how much is 1 USD to ZAR.
Who or what determines the rand dollar exchange rate
The exchange rate of the rand is determined by “market forces”, according to the Reserve Bank.
The buying and selling rates for dollars, are based on the supply of and demand for dollars in the market at any given time.
Sometimes, the Reserve Bank may “intervene” in the market to purchase and sell dollars – if it is in line with monetary and exchange rate policy. The bank’s intervention would be to “smooth out unduly large short-term fluctuations” in money-market liquidity and the exchange rate.
For South Africa, rand weakness means higher prices for a number of goods in the shops that are imported – including electronic equipment and some wheat products.
Currency Converter USD to ZAR – Dollar to Rand South Africa (USD/ZAR)
As explained above, 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.
How to Calculate Exchange Rate Dollar to Rand
The symbol for USD can be written $. The symbol for ZAR can be written R. The United States Dollar is divided into 100 cents. The South African Rand is divided into 100 cents.
There are many currency calculator tools to help you convert from Dollars to South African rand. Current exchange rate for the Dollar (USD) against the South African rand (ZAR) can be checked using the below links.
- Exchange Rates UK (exchangerates.org.uk) Best Currency Converter (USD to ZAR)
- XE – (xe.com) Convert USD/ZAR. United States Dollar to South Africa Rand
- TransferWise (transferwise.com)- Best Converting 500 Dollars in Rands
- X-Rates – (x-rates.com) Currency Exchange Table (South African Rand)
- OANDA (oanda.com) – Live Exchange Rates – USD/ZAR
- Travelex (travelex.co.za) – Currency Exchange Rates
- Bloomberg (bloomberg.com) – USD to ZAR Exchange Rate
- DailyFX (dailyfx.com) – Dollar – Rand Chart
- TradingView (tradingview.com) – USD ZAR Chart (Dollar to South African Rand Rate)
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
We hope you enjoyed reading our article on Dollar to Rand (USD/ZAR). Please leave a comment.
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