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  • As per RBI norms, the GST is applicable as per travellers.
  • This amount is calculated considering one traveller. You can further add/edit travellers in preconfirmation page which can impact the total amount.
  • You may block foreign currency by paying 2% of total transaction value. This blocked rate will be valid for 2 working days.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above without any threshold limit in a financial year under the Liberalised Remittance Scheme of the Reserve Bank of India.The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
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South African Rand (ZAR) - Currency of South Africa

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Buy, Sell or Transfer South African Rand (ZAR) in India at the best exchange rates

About South African Rand (ZAR)

The South African Rand is used as the national currency by the Republic of South Africa. Generally abbreviated as ZAR, the South Africa currency is further subdivided into 100 cents. Introduced in the year 1961, this South Africa Currency is used by the Common Monetary Area, consisting of four countries – Zimbabwe, Swaziland, Namibia and Lesotho. Between 1961 and 1982, the South African currency had a higher value against the US Dollar. In 1990’s the South African currency got a new look with images of Big Five wildlife species.

Some facts that you ought to know about the zar:

    1. The short name for South African currency is ZAR –Zuid –Afrikaanse Rand.
    2. The symbol for ZAR is R.
    3. The coins used the most are 5C, 10C, 20C, R 1, R 2, R 5.
    4. The most frequently used banknotes are C R 10, R 20, R 50, R 100, R 200.
    5. The South African reserve bank is the official bank of South Africa.

History of South African Rand

South Africa, being one of the most popular countries in the African continent, has an interesting history of its currency. South African Rand is the official currency and is called ZAR. Introduced on 14th February 1961, when the country became a republic. The term “rand” comes from “Witwatersrand,” the name of the high escarpment located in Johannesburg, which is the capital city of South Africa.

ZAR is commonly used as an abbreviation for Dutch Zuid-Afrikaanse Rand. It was introduced by replacing the British Pound with 2 Rand = 1 pound and 10 shillings. It aimed to bring a stable economic transactional system to the country. It is denoted by the letter R and is subdivided into 100 cents. The South African Rand is a legal currency in Namibia, Lesotho, and Eswatini.

The currency faced major shifts in its value after the 1970s. First introduced in 1961, ZAR (South African Rand) saw a fairly good beginning and it was seen as an auspicious beginning for the economy. The currency was introduced at a time when the country was witnessing financial instability and it was seen as a hope for revival. For the first five years, ZAR had a higher value than the US Dollar. The status did not last long as the value of the currency started to decline substantially in the later years. As the currency got linked to the international market its value kept decreasing. There are numerous reasons for the steep decline including the ongoing inflation back then and Africa’s political philosophies.

Up until the mid-1970s South African Rand had its value intact being 1.5 Rands per US dollar. By the year 1985, it went to 2 Rands per US dollar. This was the period when the nation halted all foreign exchange activity to curb the instability. However, in the following five years, it went to 3 Rands per US dollar. In the last decade, the currency has stepped to an all-time low and has lost half of its value.

The currency is minted by the South African Reserve Bank. In the initial years, notes and coins of Rand featured the images of activists who fought for the country’s rights. Later on, it was changed to important rivers and monumental designs. Presently, both banknotes and coins feature images of Nelson Mandela. The banknotes are available in 10, 20, 50, 100, and 200 rands and coins are available in denominations of 1, 2, 5, 10, 20, and 50.

Factors Affecting the Exchange Rate of the South African Rand

The exchange rate of the Rand is affected by several factors. The pointers below explain in detail the exchange rate trend of ZAR:

1. Export

ZAR’s value depends mostly on gold exports to the country. Due to the financial crisis, the International community finds it more reliable to improve relations with developed currencies of the US and Japan which led to a decline in South Africa’s gold exports. This has led to a major decline in ZAR’s value. In addition, China’s unstable economic situation also impacts ZAR as China is the biggest receiver of South Africa's exports.

2. Low commodity prices

ZAR is considered a commodity currency. The country relies heavily on its export of minerals such as platinum, chromium, and iron ore. In addition, it is the world’s largest exporter of platinum. South Africa has lower commodity prices, at present. The reason behind the same is that China being the biggest importer of South Africa's commodities has decreased its demand. This impacts the currency and results in a lower value in the International market.

3. Political Policies

South Africa has always been a country with severe political instability which has impacted its relations with other countries as well. To date, the country has witnessed problems creating stable diplomatic relations which impact its economy and eventually the currency.

4. Global Uncertainty

Every currency is subjected to fluctuations in the International community. ZAR is highly impacted due to inflation which results in fluctuations in its value. In times of inflation, countries choose to sell their useless assets to developed countries and South Africa, being an economically backward country, can not afford to participate in these transactions leading to a lower value of its currency

5. Unemployment

South Africa faces severe unemployment issues due to several reasons including strict labour laws and bureaucratic hurdles. This in turn impacts the economy and decreases the value of ZAR even further.

Also, when the world was going through inflation in 2008, ZAR was pushed down. The international community detached from making transactions with South Africa which led to a decline in export revenue as well. China being the key trading partner of the country withdrew a major chunk of its trade relations. Also, the September 2011 attack and the 2007-2008 financial crisis are other factors that affected the currency. The 2011 attack forced the country to divert its major focus on reviving the ill effects of the attack.

Quick Facts About South African Rand (ZAR)

Currency Name South African Rand
Short Name ZAR
Nicknames na
Symbol (s) R
Unit 1/100, Cent
Frequently Used Coins 5c, 10c, 20c, R 1, R 2, R 5
Rarely Used Coins NA
Frequently Used Bank Notes R 10, R 20, R 50, R 100, R 200
Rarely Used Bank Notes NA
Central Bank, Name & Website South African Reserve Bank | www.reservebank.co.za
Territories that use the currency as a part of their legal tender Zimbabwe, Swaziland, Namibia and Lesotho

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The South African Rand

The official currency of South Africa is in the subdivision of 100 cents. It was introduced in the year 1961. The currency coins are currently under circulation in the country are in the denominations of cents 5, 10, 20, 50, and rand 1, 2 and 5. Similarly, the bank notes that are currently under nationwide circulation are in the denominations of rand 10, 20, 50, 100 and 200. The issuance rights are under the authority of the South African Reserve Bank.

states that use the US south african rand as a part of their legal tender:
Zimbabwe, Swaziland, Namibia and Lesotho

How to GET BEST forex RATES online?
To find the latest 1 INR to ZAR rate and get information about other exchange rates, simply visit the Thomas Cook website.

If you need to know anything else about the South African currency and customized tour packages of South Africa, turn to Thomas Cook.

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Frequently Asked Questions

What does Rand stand for in the currency name?
The word Rand comes from the Afrikaans proper noun Witwatersrand, which is a 56-kms long scarp in South Africa.
How do I decide the amount of South African Rand I need to buy for the trip?
This is completely dependent on the nature of your trip. If you are confused about the expenses that you might have to incur while you are on the trip, then please contact our team of experts and they will guide you with the proceedings.
Is there any specific limit to carry Rand if I am travelling to South Africa?
You may carry up to ZAR25,000 in cash, and for foreign currencies the limit is up to USD10,000. However, in case the amount you are carrying exceeds the given limit, then you must declare the same.
What are the best currencies to use in South Africa?
You will need to have Rand at hand to make any transactions. Otherwise you can use bank cards or forex cards to make any digital transactions. We suggest you buy Rand before you leave for your trip to South Africa. For more information please contact our experts and they will facilitate you with appropriate information.
Where can I buy the South African Rand?
While you can buy from any authorised vendor, we suggest you conduct some thorough research before finalising the purchase. In case you are interested to buy from Thomas Cook, then please the nearest Thomas Cook centre or contact our experts online to get relevant assistance.

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