ZAR (South African Rand)

AAA

DEFINITION of 'ZAR (South African Rand)'

The currency abbreviation for the South African rand (ZAR), the currency for South Africa. The South African rand is made up of 100 cents and is often presented with the symbol R. The rand comes from the word "Witwatersrand" which means "white waters ridge". Johannesburg, the location of the majority of South Africa's gold deposits, is located on this ridge.

INVESTOPEDIA EXPLAINS 'ZAR (South African Rand)'

The South African rand was first introduced at the same time as the Republic of South Africa was established. The rand replaced the South African pound at a rate of 2 rand to 1 pound.

From introduction until 1982, the rand was actually more valuable than the U.S. dollar, after which political pressure and sanctions caused the currency to lose value.

RELATED TERMS
  1. Krugerrand Gold Coin

    A gold coin minted by the Republic of South Africa. Krugerrand ...
  2. Currency

    A generally accepted form of money, including coins and paper ...
  3. Forex - FX

    The market in which currencies are traded. The forex market is ...
  4. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  5. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  6. Currency Pair

    The quotation and pricing structure of the currencies traded ...
Related Articles
  1. thinkstock|istock
    Options & Futures

    A Primer On The Forex Market

    Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers.
  2. Forex Education

    Top 8 Most Tradable Currencies

    Currencies can provide diversification for a portfolio that's in a rut. Find out which ones you need to know.
  3. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  4. Forex Education

    Forex Investing: How To Capture Commodity Fluctuations

    For individual or retail investors looking to gain exposure to hot commodity trends, the foreign exchange markets provide the answer.
  5. Forex Education

    Dollarization Explained

    Find out how fledgling economies can find some stability in their currency and attract foreign investment.
  6. Bonds & Fixed Income

    6 Factors That Influence Exchange Rates

    Find out how a currency's relative value reflects a country's economic health and impacts your investment returns.
  7. Forex

    If a country's currency is determined by the strength of its economy, why isn't the U.S. dollar worth ...

    Generally speaking, when Country A's currency is worth more than that of Country B, it does not necessarily mean that Country A's economy is stronger than B's. For example, Japan's economy is ...
  8. Investing Basics

    The Most Popular Bitcoin Mining Software

    Success at mining bitcoins depends on the combination of time, knowledge, computer hardware and the complementary software.
  9. Forex Education

    Who are cambrists and how do I become one?

    Discover what a cambrist is, why they are important to exchange markets and what skills you should possess if you are interested in becoming one.
  10. Trading Strategies

    Can forex currency pairs exhibit consolidation patterns?

    Learn how forex currency pairs exhibit recognizable consolidation patterns. These patterns offer traders the opportunity to place low-risk, high-reward trades.

You May Also Like

Hot Definitions
  1. Christmas Island Dollar

    The former currency of Christmas Island, an Australian island in the Indian Ocean that was discovered on December 25, 1643. ...
  2. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  3. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  4. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  5. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  6. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
Trading Center