South Africa

ZAR - South African Rand
Convertible: Yes - Transferable: Yes - Exchange rate regime: floating
 South Africa

Type of transactions

FX Spot FX Forward
Delivery date : J; J+1; J+2 Not yet available
Liquidity: Good Liquidity: Good

EUR/ZAR parity: liquidity schedules

EUR/AUD parity: liquidity schedules

Did you know?

Monetary Policy

  • The annual of these must be between 3% and 6%.
    Price setting method: the floating exchange rate is described as "supervised". The SARB thus reserves the right to intervene on the spot market to influence the value of the ZAR, mainly against the USD.
  • The South African Reserve Bank (SARB) is the central bank of South Africa: its objective is to maintain price stability,

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 certain raw materials, as well as problems related to employment and energy.


There are no special 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 the country is a major producer of yellow 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.

Paiements en ZAR vers l’Afrique du Sud

The following information is required:

  • BIC Code of the beneficiary bank
  • Full name, address and account number of the beneficiary
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