What is the GBP to ZAR exchange rate today?
The GBP to ZAR rate can be affected by a myriad of influence, typically economic and political occurrences. These events suggest to investors whether or not to invest in either currency, causing an upturn or downturn in the GBP to rand exchange rate.
GBP to ZAR Chart
South African Rand facts
Name: South African Rand
Symbol: R Cent: c
Minor Unit: 1/100 = Cent
Freq Used: R1, R2, R5, 5c, 10c, 20c
Freq Used: R10, R20, R50, R100, R200
Central Bank: South African Reserve Bank
Users: South Africa, Lesotho, Namibia
What can affect the pound to rand rate?
The rand is a fairly new currency, introduced into the then Union of South Africa in 1961. The strength of the rand relies heavily on the economic development of the country, which in recent years has been struggling. Alongside this, with uncertainty over Great Britain’s involvement with EU, the pound also suffers periods of uncertainty.
When a decision is made by either country’s central bank about inflation, waves are often created within the foreign exchange market and for the pound to rand rate. The opinions and thoughts of politicians that are voiced in parliament, on the TV or even via social media also have an effect on the GBP to ZAR market.
With that in mind, if you’re making international payments between the UK and South Africa, it may be important to consider how to make the most of your money when converting GBP to ZAR, given the volatile foreign exchange market.
We convert pounds to rands with competitive rates and low fees
As foreign exchange specialists, our goal is to ensure your money gets from A to B, quickly and with minimal cost. You can sidestep the costly fees that some high-street banks charge when you convert GBP to ZAR, and rely on the specialist guidance of our expert brokers for your currency exchange.
Whether you are sending money to family and friends in South Africa, paying for a destination wedding or are emigrating there, we can help you navigate the GBP to ZAR exchange market.