Looking for the best INR to ZAR forex rate? If you have plans of visiting South Africa and are looking for the on-going 1 INR to ZAR currency exchange rate, then rely on Thomas Cook. We offer the most competitive Rupee to Rand exchange rate in India. Here’s something that could help you.
Located at the southernmost tip of the African continent, South Africa, officially the Republic of Africa, is classified by its several distinct ecosystems. If you are a person who is fascinated by wildlife, then think no more and head straight to South Africa. Its long coastline stretches along the South Atlantic and Indian Ocean and measures at least 2500 Km. With over 20,000 varieties of plants, South Africa ranks 6th out of the world’s 17 mega-diverse countries. Did you know Cape Town, the country’s capital features amongst the world’s top cities report by Lonely Planet? Although known for its wildlife and spectacular natural beauty, the country has some noteworthy ultramodern architecture.
That’s not all if you are daring enough you could even swim with the sharks. Now, this caught your interest, didn’t it? Research about the fascinating things that the country offers and we bet you will instantly book your flight tickets to South Africa. Must Know Fact about South Africa:
| Capital |
Cape Town |
| Dialing Code |
+27 |
| Currency |
South African Rand |
| Official Language |
Afrikaans |
If you have made up your mind about visiting South Africa, then it’s time for some action. The first and foremost thing that you need is to know the on-going 1 INR to ZAR exchange rate. Once you know INR to
ZAR currency exchange rate, then you can easily estimate your
foreign exchange requirement.
If you are looking for the best INR to Rand exchange rate, then you have arrived at the right place. At Thomas Cook, we understand that overseas trips could be expensive ones, but we use our expertise to offer you the most competitive INR to ZAR exchange rate. We simplify the process of INR to Rand conversion and travel bookings while ensuring that you
buy forex online, from the comfort of your home. Want to know the value of 1 INR to ZAR?
Head straight to our online Indian Rupees to Rand converter assistance tool. This tool is designed to provide you with real-time exchange rates and saves you from the complicated forex calculations. To buy forex online, all you have to do is simply log on the Thomas Cook website, enter the required details, and our trustworthy executives will deliver your forex or forex card at your doorstep within 24 hours. If you wish, you could personally visit the nearest branch to pick up your forex at your convenience. There’s more, once you return from South Africa and have excess foreign currency, then we facilitate the reconversion of Rand to Rupee.
Importance of the South African Rand
The South African Rand is the official monetary tender of South Africa. It is symbolised as ZAR in the foreign exchange market. While the symbol to represent the official currency of South Africa is ‘R’. The word ‘Rand’ is obtained from ‘Witwatersrand’ meaning ‘ridge of white waters’. The ridge is the place in South Africa where most of the gold deposits were found and it is a place where today Johannesburg stands.
Introduction of the South African Rand
For centuries, South Africa was under the rule of the whites, and the currency used was influenced by that regime. However, after the end of the apartheid, the rand was introduced as the official currency of the region. The South African Pound was replaced by the Rand. The South African Reserve Bank is the central bank of South Africa responsible for the issuance and circulation of its currency. The currency notes issued by the SARB are R 10, R 20, R 50, R 100, and R 200. The coins issued by the monetary authority are 5 cents, 10 cents, 20 cents, 50 cents, R 1, R 2, and R 5.
Factors that affect the exchange of the South African Rand to INR
The currency exchange is a volatile market. All the currency rates fluctuate daily. Certain factors affect the currency exchange rate on a global level. The factors that affect the exchange rate of the South African Rand to the Indian Rupee are as under:
- The trade between both the countries
- The opportunity for investments in India
- Interest rates offered by the Indian Banks
- Inflation rates in India
- Political and economic stability in India
- Convert South African Rand to INR Online as per Today’s Conversion Rate
Conversion of the South African Rand to Indian Rupee is very simple. Let us understand the currency conversion with the help of an illustration.
Mr. Nambi working with a South African Engineering company wants to send money to his wife living in India. He has 5000 ZAR which he wants to send to India. Let us calculate the 5000 ZAR in Indian currency.
Today’s conversion rate is 1 ZAR = 4.45 INR i.e., the value of 1 South African Rand is equal to 4.45 Indian Rupee. So, 5000 ZAR is equal to 5000*4.45 = 22,228.85 INR.
Convert the South African Rand to INR
Above with the help of an illustration we understood the conversion of the South African Rand to the Indian Currency. Let us now determine the currency exchange between the Indian Rupee and the South African Rand.
Today’s currency exchange rate between the Indian Rupee and the South African Rand is 1 INR = 0.22 ZAR i.e., the value of 1 Indian Rupee is equivalent to 0.22 South African Rand. So, 100 INR = 22.49 ZAR.
How are South African Rand -INR Rates Determined?
The conversion rates of the South African Rand and the Indian Rupee are determined by factors like:
- The demand for the currency: if the demand for the currency is high then it affects the conversion rate positively. However, if the demand is low it impacts the currency conversion rate negatively.
- The supply of the currency: if the currency supply is adequate to the demand the conversion rates do not show a spike. However, if the supply of the currency is inadequate then there is a rise in the currency exchange rates
- Floating rate: the currency conversion rate of the currencies is dependent on the performance of the government of respective countries as well as its banking policies and decisions play an important role in determining the currency conversion rates.
- Fixed-rate: if the currency is pegged to another currency namely US Dollar , Euro , etc. then the performance of those currencies determines the currency exchange rates of the dependent currencies.
South African Rand and INR Overview
The conversion rates of the South African Rand and the Indian Rupee will show the statistics of the performance of each of these currencies with each other. Let us see the performance of 1 South African Rand to the Indian Rupee in the last 30 days.
The highest conversion rate between the South African Rand and the Indian Rupee in the last 30 days was 4.6194 Rupees. The lowest conversion rate between the South African Rand and the Indian Rupee in the last 30 days was 4.4336 Rupees. While the average conversion rate of these two currencies in the last 30 days is 4.5173 Indian Rupee. Looking at the given statistics we can observe a volatility of 0.65% between the conversion rates of the South African Rand and the Indian Rupee.
INR
