The lowdown on the South African rand
Economical Influences and the South African Rand
If you are considering converting NZD to ZAR, it’s good to get a snapshot on how the economy may influence the South African exchange rate.
South Africa has one of the largest stock exchanges in the world, and the strongest within Africa1 With an abundant supply of natural resources and well-developed industries, South Africa’s economy has been growing steadily, only decelerating slightly in recent years.1
South African economic policy focuses on controlling inflation and helps to stabilise the fluctuation of the rand.1 South Africa has a middle-income economy that is the second largest in Africa, second only to Nigeria.1
South African Rand Historical Market Exchange Rate
The South African rand’s performance during the past three to five years has seen significant fluctuations2.
As of 1st February 2015 the New Zealand dollar was buying approximately 8.44 South African rand; just a few months later, on 20th July, that figure had improved in favour of the rand to approximately 8.05 ZAR per NZD.2
Fast forward to mid-January 2016 and 1 NZD was now buying a whopping 11.05647 ZAR; making it a much more affordable holiday destination for New Zealanders to travel, than if they had travelled to South Africa in July of the previous year.2
2018 continued the rand’s trend and tendency to fluctuate with 1 NZ dollar buying around 8.42 ZAR in early February - with that figure reaching approximately 10.17 ZAR per 1 NZD by September. 2
As of 6th November 2018, 1 New Zealand dollar was buying 9.52697 ZAR.2
Learn more about the ZAR before you travel to South Africa and create a currency rate alert so we can notify you when it hits the rate you want.
Exchange rates last updated Wednesday, 26 February 2020 7:24:07 p.m. NZDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: Last month
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 3 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 6 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 12 months
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1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/sf.html
*Data correct as of 6 November 2018.
*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.