OANDA's currency calculator tools use OANDA Rates™, the touchstone FX rates compiled from leading market data contributors.
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These values represent the daily average of the Bid and Ask rates OANDA receives from many data sources.
ZAR - South African Rand
The South African rand (ZAR) is the currency of South Africa and is issued by the South African Reserve Bank. The South African rand has the symbol R. It is subdivided into 100 cents. The currency’s name is derived from the word ‘Witwatersrand’, which means ‘white waters’ ridge’. The ridge is where most of South Africa's gold deposits were found and where Johannesburg was built.
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