The British Pound commonly knows as GBP, is the official currency of the United Kingdom and one of the most valuable currencies in the world. The South African Rand, also known as ZAR, is the official currency in South Africa and is less valuable than the British Pound. Converting the South African Rand to British Pound is not a very simple thing to do as the ZAR currency is not as commonplace as the GBP, which has a powerful influence worldwide.
Interestingly enough, while the British Pound is stronger than the Dollar, it still remains under it as regards the international market. This, though, is not in value but in acceptability as the US Dollar is seen as the currency for international transaction and trade in the international market.
It is highly necessary to take into account some very important aspects of the conversion because you need some knowledge in order to get it right. In order to simplify this job, you should definitely have at least the basic knowledge regarding this matter, but you can still do it without them if you follow these guidelines.
The Basics of Converting South African Rand to British Pound
The first thing you have to do in order to convert the South African Rand to British Pound is to find the current exchange rate between these two currencies – in other words, to find the Forex code for the British Pound and South African rand cross. This is not a very difficult thing to do, it requires a simple search on the Internet with the term “South African Rand/British Pound” or “ZAR/GBP”.
In this way, you will be able to discover the reference point for the rate you want to obtain in the end. It is very necessary to understand one very important aspect of this conversion: This rate is a foreign exchange interbank one and you may not get the final conversion right.
The next thing you have to do is search the South African Rand/British Pound rate in the major banks available and pay attention to the currency exchange rate. In order to do this, you can either enter the official website of such a bank or visit one in your area. There are two main possibilities: The banks have a similar exchange rate for all the branches or some banks leave the decision to the managers. It is essential for you to know the retail exchange in order to be able to obtain the correct conversion.
If you cannot exchange the South African Rand to British Pound directly, there are also other available opportunities for you. Most of the banks provide the conversion between the British Pounds and the United States Dollars (also known as USD), which can be easily exchanged into the South African Rand. In order to get the correct conversion, you will have to first convert the South African Rand to USD and then exchange the United States Dollars in British Pounds. This is the simplest thing to do and you can do it both using the official websites of the banks or visiting a currency exchange desk.
The last thing you have to do in order to get the correct result is to find the bank branch or currency exchange desk that has the highest exchange rate. After you do this, contact the institution in question in order to perform the conversion between the South African Rand and British Pound. If you choose this option, you will have to provide the bank or exchange desk personal identification. Never forget that banks and currency exchange desks are allowed to request it to address any future concerns regarding this service and you are required to offer this information to them in order to obtain the result you want.
As you can see, there are many ways to convert the South African Rand (ZAR) to the British Pound (GBP) – either directly or indirectly. It is important to choose the method that suits you best and to always be careful at the current exchange rates in order to get a correct conversion.
Although the emphasis is on the British pound, there are still countries that make use of the pound as their currency. These countries include Egypt (Egyptian pound), Lebanon (Lebanese pound), and South Sudan (South Sudanese Pound). More so, for the pound sterling, there are different countries that use it including Pitcairn Islands and South Georgia and South Sandwich Islands.
On the other hand, apart from South Africa, other countries that use the Rand are Zimbabwe, Namibia, Swaziland, and Lesotho.