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INJ
INJ
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ZAR
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About the South African Rand (ZAR)

What Is the South African Rand (ZAR)?

The South African Rand, designated as ZAR and symbolized as R, is the official currency of the Republic of South Africa. It is also recognized in the Common Monetary Area, shared with Lesotho, Namibia, and Eswatini, where it circulates alongside local currencies. The Rand is subdivided into 100 cents.

The South African Rand is issued by the South African Reserve Bank (SARB). The SARB is the central bank of South Africa and is responsible for the production and distribution of banknotes and coins in the country. It oversees the monetary policy and maintains financial stability in South Africa, playing a crucial role in the economy of the nation.

What Is the History of ZAR?

The Rand takes its name from the Witwatersrand, meaning "white waters' ridge" in Afrikaans, which is the location of Johannesburg and a major gold-mining area. Introduced in 1961 when South Africa became a republic, it replaced the South African pound at a rate of 2 Rand to 1 pound.

Notes and Coins of ZAR

South African coins are issued in denominations of 1, 2, 5, 10, 20, and 50 cents, and 1, 2, and 5 Rands. Banknotes are available in 10, 20, 50, 100, and 200 Rand denominations. Since 2012, banknotes have featured Nelson Mandela on the front and the "Big Five" wild animals on the back. Commemorative notes released in 2018 feature Mandela's images.

Exchange Rate History of ZAR

Initially, the Rand was strong, trading at 1.40 USD in its early years. However, due to inflation and international opposition to apartheid, its value declined. By 1985, it traded at 2 Rands per USD and continued to depreciate, reaching over 6 ZAR/USD by 1999 and nearly 14 ZAR/USD by 2001. After recovering to about 6-to-1 against the dollar by 2006, it faced another decline due to a slowdown in the mining industry and global economic factors. In 2016, it reached an all-time low of nearly 18 ZAR/USD.

What Is The Common Monetary Area?

The Common Monetary Area (CMA) is a monetary union in Southern Africa comprising South Africa, Namibia, Lesotho, and Eswatini. It facilitates the free movement of capital and services among these nations, with the South African Rand (ZAR) serving as the primary currency. Within this union, while each member country has its own currency, the Rand is also legal tender and the local currencies are pegged at par with the Rand. This arrangement ensures economic stability and fosters cooperation among the member states. The South African Reserve Bank plays a pivotal role in influencing the monetary policy across the CMA, thereby promoting a higher degree of economic integration and facilitating seamless trade and financial transactions across these national borders.

Is ZAR a Stable Currency?

The South African Rand (ZAR) has historically exhibited a degree of volatility, influenced by a combination of domestic challenges and global economic factors. Internally, issues such as political uncertainty, governance concerns, and high unemployment rates have impacted its stability, while externally, it remains sensitive to global market sentiments and fluctuations in commodity prices, notably gold, given South Africa's status as a major producer. Although there have been phases where the Rand demonstrated resilience, its nature as an emerging market currency often subjects it to rapid valuation shifts in response to both local and international events. This characteristic renders the Rand more volatile compared to currencies from more economically stable regions, leading to a general perception of it being less stable, especially when measured against major global currencies like the US Dollar.

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Bitgethot-iconcalculator.compare.best
R336.45
0.0200% / 0.0320%vip-iconcalculator.compare.vip
Binance
R335.22
0.1000% / 0.1000%
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OKX
R335.29
0.080% / 0.100%
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Huobi
R336
0.1000% / 0.1000%
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Gate.io
R335.22
0.1000% / 0.1000%
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Bybit
R335.59
0.1000% / 0.1000%
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KuCoin
R335.22
0.1000% / 0.1000%
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Bitfinex
R332.28
0.1000% / 0.1000%
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$1.88B
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$77.42M
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98.85M INJ

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0.5 INJ
R167.11
1 INJ
R334.23
5 INJ
R1,671.14
10 INJ
R3,342.28
50 INJ
R16,711.41
100 INJ
R33,422.81
500 INJ
R167,114.06
1000 INJ
R334,228.11

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0.5ZAR0.001496  INJ
1ZAR0.002992  INJ
5ZAR0.01496  INJ
10ZAR0.02992  INJ
50ZAR0.1496  INJ
100ZAR0.2992  INJ
500ZAR1.5  INJ
1000ZAR2.99  INJ

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0.5 INJ$9.5$9.83
-3.42%
1 INJ$18.99$19.67
-3.42%
5 INJ$94.97$98.33
-3.42%
10 INJ$189.94$196.66
-3.42%
50 INJ$949.68$983.28
-3.42%
100 INJ$1,899.37$1,966.55
-3.42%
500 INJ$9,496.84$9,832.76
-3.42%
1000 INJ$18,993.69$19,665.51
-3.42%

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0.5 INJ$9.5$10.5
-9.53%
1 INJ$18.99$20.99
-9.53%
5 INJ$94.97$104.97
-9.53%
10 INJ$189.94$209.95
-9.53%
50 INJ$949.68$1,049.75
-9.53%
100 INJ$1,899.37$2,099.5
-9.53%
500 INJ$9,496.84$10,497.49
-9.53%
1000 INJ$18,993.69$20,994.98
-9.53%

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0.5 INJ$9.5$7.48
+26.90%
1 INJ$18.99$14.97
+26.90%
5 INJ$94.97$74.84
+26.90%
10 INJ$189.94$149.67
+26.90%
50 INJ$949.68$748.36
+26.90%
100 INJ$1,899.37$1,496.72
+26.90%
500 INJ$9,496.84$7,483.58
+26.90%
1000 INJ$18,993.69$14,967.16
+26.90%

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