USD to ZAR: Convert Dollar to Rand/Exchange Rate

The South African Rand is the official currency of the republic of South Africa. Its symbol is ZAR. The currency was unveiled on 14th February 1961 replacing the South African pound. This was after a 1958 commission recommended a move away from the domination of the pounds, shillings and the pence. The currency gets its name from The Witwatersrand, a Gold ridge which homes South Africa’s famous city of Johannesburg. At its inception, the ZAR was exchanging at 2 Rands to the pound an equivalence of 10 shillings to the rand. A campaign to familiarise the populace with the new currency started in the same year the republic of South Africa was established.

Exchange History of the US Dollars to Rand

At the time when the Rand was first introduced, you could convert US dollars to Rand at an impressive 1 Rand = US $ 1.4 which was such a great return for the Gold laden country. The smooth riding could only last up to 1982 though. There was mounting pressure from politics and sanctions were eventually placed on the country following the apartheid struggles. This badly impacted on the economy and soon the Rand couldn’t stand it any longer.

The Rand broke parity with the US dollar in March 1982 to trade at 1 and 1.30 RAND to dollar until June 1984. By February, the following year, things were already nasty; it went to 2 Rands for US $1! In 1994, the currency was already trading at over 3.60 to the dollar and by 1999 it went as high as 6 Rands for a Dollar.

The historical worst for the SA Rand/US Dollar exchange was witnessed in 2001 when land reform programs in Zimbabwe coupled with the effects of the September 11 attack pushed the Rand to a record low of 13.84 to the dollar! After that period, investigations were launched which led to some recovery of the value of the SA Rand. From then on, the rand has traded in the range of 5-18 Rands to the US Dollar.

See Also: South African rand to dollars currency exchange

South_African_Twenty-Rand - dollars to rand

Where to Convert Dollars to Rand and the Processes Involved

The US Dollar still remains the de facto currency in the world. It’s like the fall back plan for any international transaction because of its popularity and wide spread acceptance. In South Africa, it’s no different and you can always find shopping stores and hotels where the dollar is accepted without a question. But if you have to convert Dollars to Rand or convert rand to dollars maybe in anticipation of a travel or for a completion of a transaction, the exchange avenues are always waiting. Here are a few options;

READ
Top 5 Biggest Banks In Botswana 2020

1. Online Conversion – This is the most popular method today. The fact that there are countless converters online makes the process swift and reliable as the companies try to outwit each other. For those who work online or buy products and goods online, maybe you have been through the process and you already love what they have to offer. The headache is selection of the right exchange company! The internet is filled with scam and if you are not careful, you might just lose all your money in a blink.

See Also: South African rand to Euro currency exchange

2. Banks – The best thing about local banks is that at least you don’t have to worry about trust… you can trust them. If you can walk down the street, they are a very good option. The only downside to most physical banks is that most of them work only during the day and close at night for reasons of security.

3. Restaurants and Big Hotels – Most of the luxurious hotels will come with Forex points within the block. Here. you can convert your dollars into rand quite conveniently. Just be sure that you can trust the dealers, confirm if they are registered or not.

4. Any Other Forex Points – There are numerous such points within major towns. Again, the problem is the trust. You should check to see if they are genuine or not.

dollars

How Much do you Get for Each dollar?

Well, this depends on how many dollars you are talking about. Of course the more the dollars, the more you get. As already mentioned, the South African Rand currently trades at around 17.61 ZAR = US $1.

It is imperative though to calculate the expected amount on your own first. There are numerous such currency calculators online. Most exchange points will also usually have the calculators.

Note that the exchange company will charge you for the transaction. You better ask how much they charge from the word go!

Was this article helpful?
READ
Converting South African Rand To British Pound Is No Longer As Hard As You Thought It Was
Andile Smith
Andile Smith
Andile provides articles on anything from Politics, Sports, History and entertainment to funny, creepy and weird. His passion for writing allows him to take what is ordinary and transform it into a real masterpiece. He's a true storyteller with a passion for tech and literature
data-matched-content-rows-num="2" data-matched-content-columns-num="4" data-matched-content-ui-type="image_stacked" data-ad-format="autorelaxed">

Recommended

Dissecting Yolanda Mvelase’s Age and The Love Story That Made Her Kwesta’s Wife

Everyone loves to hear a good love story, especially, one with a happy ending which seems to be the case for -year-old Yolanda Mvelase...

Sordid Details Of Thabile Dube’s Time as Benjamin Dube’s Wife

Thabile Dube is a beautiful, vibrant, and hard-working woman who is best considered the Dube ministry's first lady. She used to be a huge...

Revelations About Busiswa’s Child, Baby Daddy and Physical Abuse Scandal

In 2019, Busiswa Gqulu, and her baby daddy, Katlego Mlangeni, were in the news but not for a good reason. There were stories about...

A Full Look At Nomcebo Zikode’s New Songs and Musical Career So Far

Nomcebo Zikode is one South African musician who has held the world spellbound with her strong musical sense, especially in the viral song Jerusalama,...

These Facts Will Tell You All About TV Personality Rorisang Thandekiso

Rorisang Thandekiso is a disciplined, smart, and beautiful young woman whose life story is a huge inspiration to youths. Despite starting off as a...

Featured Today

Zandile Msutwana’s Real Age and Her Affair With Another Woman’s Husband

Zandile Msutwana is no stranger to anyone who has been following the South African movie industry. The actress rose to fame in the second...

How to Sign Up to Showmax Subscription Packages, Their Prices and How To Cancel

Showmax is a video-on-demand streaming service that allows subscribers to have access to a wide range of TV series, movies, kids' shows, and documentaries...

Revelations About Edwin Sodi’s Birthplace, Biography and Early Influences

Edwin Sodi is one of the many South African millionaires who need no form of introduction as not only has his wealth put him...

How Much Is Showmax Per Month and Is It Better Than Netflix?

It is absolutely normal for anyone to choose the best at the cheapest and most affordable rates among many offers. With so many videos-on-demand...

How Bob Mabena’s Wife Eucharist Hadebe Is Faring Since His Demise

It is difficult to fathom what it must be like for Eucharist Hadebe to grieve her beloved husband's death, considering that they both were...
Was this article helpful?

Related Stories