ZAR to INR

The exchange rate between Rand to INR determines the value of one South African Rand in terms of Indian Rupees. Fluctuations in the exchange rate impact trade, investment, and remittances between the two countries.

Convert ZAR to INR at the Real Exchange Rate

Amount

ZAR

Converted to

INR

1 ZAR =

i

Currency exchange value is subjected to market fluctuation. Exchange rate as on Feb 22, 2024.

ZAR to INR Exchange Rate

The South African Rand and Indian Rupee have a significant relationship due to the economic and historical connections between South Africa and India. Factors influencing the ZAR to INR exchange rate include interest rates, inflation, economic indicators, and market forces.

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1 ZAR to INR Exchange Rate Last 7 days

Date

Price

  • 4.424732

  • 4.430771

  • 4.430937

  • 4.430894

  • 4.405495

  • 4.397591

  • 4.380288

South African Rand to Indian Rupee Conversions

ZAR

INR

ZAR to INR Currency Conversion - An Overview

Currency conversion is a fundamental aspect of the global economy, shaping international trade, investments, and financial transactions. The exchange rate between two currencies reflects the relative strength and stability of their respective economies. One such exchange rate of interest is the South African Rand (ZAR) to Indian Rupee (INR) conversion.

As we explore the intricacies of this currency pair, we will uncover important facts about the South African Rand and examine a comprehensive list of factors that exert influence over the value of ZAR to INR conversion. Understanding these factors is crucial for businesses, investors, and individuals engaging in cross-border transactions or monitoring economic trends across these nations.

Important Facts About ZAR - South African Rand

Fact

Details
Currency CodeZAR
SymbolR
SubunitCent
Fractional Unit1 Rand = 100 Cents
IssuerSouth African Reserve Bank (SARB)
Introduced14 February 1961
DenominationsNotes: R10, R20, R50, R100, R200
Coins: 5c, 10c, 20c, 50c, R1, R2, R5
EconomyThe largest economy in Africa
Historical SignificanceReplaced the South African Pound (GBP)

How Does Our ZAR to INR Online Currency Converter Work?

People who engage in transferring or receiving payments in South African Rand (ZAR) need to stay informed about the exchange rate fluctuations, as these can significantly impact the final transaction value. Urban Money serves as a comprehensive solution for all your financial requirements.

Within this platform, there's a convenient INR to ZAR currency converter available, enabling users to accurately determine conversion rates for different amounts. This online tool is versatile, capable of converting anything from 1 Indian Rupee to ZAR to larger sums, even spanning thousands of Rupees to ZAR.

When using the converter, individuals are prompted to input a specific amount in Indian Rupees, which is then converted to ZAR. This process relies on the prevailing Rupee to ZAR exchange rate, which should be acknowledged as a dynamic entity subject to frequent changes. This fluidity in the INR to ZAR exchange rate can lead to variations in the final outcome.

Benefits of ZAR to INR Online Currency Converter Tools

Here are some of the benefits of using ZAR to INR online currency converter tools:

  • Accuracy: Online currency converters use the latest exchange rates, so you can be sure that you are getting an accurate conversion.
  • Convenience: Online currency converters are available 24/7, so you can use them whenever you need to.
  • Ease of use: Online currency converters are very easy to use. You simply enter the amount of money you want to convert, and the currency you want to convert it to, and the converter will do the rest.
  • Free: Most online currency converters are free to use.
  • Historical Data: Some converters offer historical exchange rate data, enabling users to analyse trends and patterns over time.
  • No Need for Manual Updates: As these tools use real-time data, users don't need to update exchange rates manually.
  • Comparison: Users can compare rates offered by different converters or financial institutions to find the best deal.

List of Factors Affecting the Value of ZAR to INR Conversion

  • Economic factors: The strength of the South African and Indian economies can have a significant impact on the exchange rate. If the South African economy is doing well, the ZAR will likely appreciate against the INR. Conversely, if the Indian economy is doing well, the INR will likely appreciate against the ZAR.
  • Political factors: Political instability in either South Africa or India can also affect the exchange rate. If there is political uncertainty in either country, investors may be less likely to invest in that country's currency, which can lead to a depreciation of the currency.
  • Interest rates: Interest rates in both countries can also affect the exchange rate. Suppose interest rates in South Africa are higher than interest rates in India. In that case, investors may be more likely to invest in South African assets, which can lead to an appreciation of the ZAR against the INR. Conversely, suppose interest rates in India are higher than interest rates in South Africa. In that case, investors may be more likely to invest in Indian assets, which can lead to an appreciation of the INR against the ZAR.
  • Inflation: Inflation can also affect the exchange rate. If inflation is higher in South Africa than in India, the ZAR will likely depreciate against the INR. Conversely, if inflation is higher in India than in South Africa, the INR will likely depreciate against the ZAR.
  • Speculation: Speculation can also affect the exchange rate. If investors are betting that the ZAR will appreciate against the INR, they may buy ZAR, which can lead to an appreciation of the ZAR. Conversely, if investors are betting that the INR will appreciate against the ZAR, they may buy INR, which can lead to an appreciation of the INR.
  • Supply and demand: The supply and demand for both currencies can also affect the exchange rate. If there is more demand for ZAR than there is supply, the ZAR will likely appreciate against the INR. Conversely, if there is more demand for INR than there is supply, the INR will likely appreciate against the ZAR.

Historical Data of 1 ZAR to INR from 1989 to 2022

Below are the historical data about the conversion rates of the 1 ZAR to INR from 1989 to 2022:

Period

Value

1989

6.4672

1990

6.5847

1991

7.3338

1992

9..2858

1993

10.1893

1994

9.1623

1995

8.8535

1996

9.9658

1997

7.8483

1998

7.8022

1999

6.9952

2000

6.9069

2001

5.9774

2002

4.2202

2003

5.5959

2004

6.3625

2005

7.2741

2006

7.2247

2007

6.0879

2008

5.2290

2009

4.6725

2010

5.9650

2011

6.3446

2012

6.2070

2013

5.8495

2014

5.4707

2015

5.2821

2016

3.8510

2017

4.8945

2018

5.0679

2019

4.7664

2020

4.7559

2021

4.6961

2022

4.6294

How are ZAR - INR Rates Determined?

The ZAR-INR exchange rate is determined by the forces of supply and demand in the foreign exchange market. The supply of ZAR is the amount of South African rands that are available to be exchanged for other currencies, such as the INR. The demand for ZAR is the amount of INR that people are willing to exchange for South African rands.

The Reserve Bank of India (RBI) can intervene in the foreign exchange market to influence the ZAR-INR exchange rate. However, the RBI usually only intervenes to prevent the rupee from depreciating too rapidly or appreciating too rapidly.

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Frequently Asked Questions (FAQs)

What is the highest-ever ZAR to INR?

The highest ever ZAR to INR was 4.76 INR on July 28, 2023.

What does the ZAR stand for?

ZAR stands for South African Rand.

Who decides the ZAR to the INR exchange rate?

The ZAR to INR exchange rate is decided by the foreign exchange markets based on supply and demand.

What is the subunit of ZAR currency?

The subunit of ZAR currency is the cent.

What is the smallest unit of ZAR currency?

The smallest unit of ZAR currency is the 1 cent coin.

What types of banknotes are in ZAR currency?

There are 3 types of banknotes in ZAR currency: R10, R20, and R50.

What types of bank coins are in ZAR currency?

There are 6 types of bank coins in ZAR currency: 5 cents, 10 cents, 20 cents, 50 cents, R1, and R2.

What is the value of 1 ZAR to INR in 1989?

The value of 1 ZAR to INR in 1989 was 6.4672.

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