AED
United Arab Emirates Dirham
South Africa
ZAR
-
South African Rand
Convertible:
Yes
- Transferable:
Yes
- Exchange rate regime:
Floating
Type of transactions
| FX Spot | FX Forward |
|---|---|
| Delivery date: T; T+1; T+2 | Maximum maturity: 12 months |
| Liquidity: Good | Liquidity: Good |
EUR/ZAR parity: liquidity schedules (GMT)
Did you know?
Monetary policy
- The South African Reserve Bank (SARB) is the Central Bank of South Africa. Its objective is to maintain price stability.
- Its annual Consumer Price Index is established in the range between 3% and 6%.
- Price setting method: the floating exchange rate is described as "supervised". The SARB, therefore, reserves the right to intervene on the spot market to influence the value of the ZAR, mainly against the USD.
Features and highlights
- The only freely convertible and transferable currency in the entire African continent, the Rand is also one of the most liquid emerging currencies in the world.
- The high volatility of the ZAR can be partly explained by many uncertainties that weigh on the country, such as political instability, the strong correlation with the price of specific raw materials, as well as problems related to employment and energy.
Regulations
There are no particular restrictions on the purchase and sale of ZAR.
Expert opinion
The ZAR tends to appreciate in the event of rising commodity prices, and gold in particular as South Africa is a major producer of the metal. In contrast, the ZAR tends to depreciate in times of market stress as it is considered a risky asset in comparison with other currencies.
Payments in ZAR to South Africa
The following information is required:
- BIC Code of the beneficiary bank
- Full name, address and account number of the beneficiary.
| Public Holidays 2018 (subject to change) | |||
|---|---|---|---|
| New Year’s Day | 1 January | Youth Day | 15 June |
| Human Rights Day | 21 March | National Women’s Day | 9 August |
| Good Friday | 30 March | Heritage Day | 24 September |
| Easter Monday (Family Day) | 2 April | Reconciliation Day | 16 December |
| Freedom Day | 27 April | Christmas | 25 December |
| Labour Day | 1 May | Goodwill Day | 26 December |
Source:
https://www.officeholidays.com