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Standing in one corner is GBP, and on the other, we have a South African rand.
Which one is stronger than the other?
Did you know in 1975, GBP to ZAR price was 1.560?
Since then, we have come a long way, and this guide will help us know the past and the future.
Let’s keep things simple and define what pound to rand is.You can also flip it and make ZAR to GBP.It sounds simple, right?Let’s dig deeper, then.
Let’s keep things simple and define what pound to rand is.
You can also flip it and make ZAR to GBP.
It sounds simple, right?
Let’s dig deeper, then.
Pound to rand illustrates the exchange between both currencies.
You exchange both currencies with a specific price.
It’s similar to when you travel.
You travel from the UK to the rainbow nation and find out the pound to rand value.
Then, you change pounds to rands.
On the forex platforms, you often see GBP/ZAR.
So, what does it mean?
Pound vs. rand
The mark GBP/ZAR mentions the rate of both currencies.
Ok, let’s explain this with an example:
Let’s say the pair is trading at 29.30.
It means you need 1 GBP to buy 29.30 ZAR.
One may wonder, “How many rands to pound?”
Well, it’s a no-brainer!
You just do a swap, and you have 0.03 pounds for one South African rand.
Now you wonder how the hell I came up with this.
In the next section, I’m gonna show you how you can do it with one click.
Many people find it challenging to convert pounds to ZAR.They don’t know what to do and how to do a conversion.As I mentioned above, it isn’t like solving calculus.It’s the magical tool that does conversions between both.
Many people find it challenging to convert pounds to ZAR.
They don’t know what to do and how to do a conversion.
As I mentioned above, it isn’t like solving calculus.
It’s the magical tool that does conversions between both.
To do an exchange, you first have to perform a few steps.
First, go to the analytics menu on our homepage.
Then, down below, you can find a currency converter.
Currency converter tool
Click on it, and it’ll take you to the converter tool.
Here you have three choices.
You have to select the currency/currency option.
Select them, and now you can do an exchange.
The last step is to put the value.
The converter will do an exchange.
As you can see in the image below, I’ve put the value of GBP as 50.
The converter is showing me ZAR 1393.926678.
Pound Sterling to South African Rand
Did someone notice the two-arrow circle?
It allows you to swap places of both currencies.
SafeTrader’s GBP to ZAR option calculates the price in real-time.
So, what does this mean?
It means you get the same level as in the central bank.
“But does this tool convert 1000 rand into pounds?”
Of course, it does!
You can use as many zeros as you want.
The converter will do it without breaking a sweat!
Now let’s tilt the thermostat and come to the main point.I’m talking about the pound to the rand exchange value.I have to take out a chart and explain the past and present.I’ll try to keep things simple!
Now let’s tilt the thermostat and come to the main point.
I’m talking about the pound to the rand exchange value.
I have to take out a chart and explain the past and present.
I’ll try to keep things simple!
Below you can see an all-time chart for GBP/ZAR.
Pound to ZAR historical data
The chart covers price levels from 1975 till now.
It’s always good to learn from history.
So, let’s start with 1975.
It was the lowest level for the pound sterling against the rand.
The value of the pound against ZAR was 1.560.
It was an all-time low for the pair.
Then, in the 1980s, the value went a little up and crossed the 3-mark.
Then came the 1990s, and the price jumped up, and by the end of the decade, the price was 10.
Then, we saw a spike, and the price went above 70, which is close to the current levels.
After two years, in 2002, the value of GBP/ZAR became 16.
It was a sudden move for the price as it hit an all-time high.
The level came down afterward for a few years till 2006.
In 2008, the price went to 16 again.
Then came down in January 2011.
In January 2016, the GBP/ZAR hit an all-time high.
The pair crossed all barriers and went at the 23.50-mark.
It is the highest GBP has ever been against ZAR.
However, the price came down again and traveled in a tight range for several years.
In April 2020, the value went up again, and ZAR lost ground against the GBP.
At the time of writing, the exchange rate between the pound and rand is 20.93.
It’s funny how the price never travels in the same direction.
It makes peaks and troughs.
I must say, if you look at the chart, there are a few dips.
We see pricing dropping during this 52-year old journey.
However, this downtrend isn’t significant.
The price didn’t come back to the 1980s or 1990s level.
So, one may wonder why it happens?
You see, currency rates depend on economic and political aspects.
The South African economy took a toil when the pandemic hit.
The country’s GDP shrinks by 2.1%.
2021 proved a challenging year again, and the economy grew by only 3.7%.
As the pandemic continues, South Africa’s economy is struggling.
According to the figures, the economy can grow between 0.1 to 3.8%.
So, not a major shift from the previous year.
Let’s take another chart (sorry, but I’m a chart guy).
Here you can see South Africa’s GBP till 2020.
South Africa’s GDP
According to World Bank figures South Africa is behind Nigeria and Kenya.
Interestingly, South African GDP was more than Nigeria’s just a decade ago.
But, as the economic graph went down, so did its currency.
And that’s the reason why the rand is weaker than GBP.
Still, there’s a curious question, “Why didn’t the pound lose too much ground?”
The reason is the pound is a strong currency.
The Bank of England strictly follows economic policies.
Fun Fact: The Bank of England is called the “Old Lady.”
As part of BoE’s long-term goals, it has a lower inflation rate.
It allows more purchasing power.
So, that’s why the pound sterling is a dominating currency.
Yeah, the pound lost ground against the rand and is nowhere near its all-time high.
But, you can’t doubt the good ol’ pound sterling.
That’s why the pound never lost too much and is still a stronger currency than the rand.
Now the next time anyone says, “Why is ZAR weaker than GBP”?
You know what to answer.
A snooping question can pop up at any moment.
And one of the probing questions is, “What’s the pound to the exchange rate today”?
According to SafeTrade’s converter, the current rate is 27.87.
It means you need 27.87 ZAR to exchange one pound today.
So, now you know!
In the last part, you learned a bit about history.In this section, I’ll explain how the rate will change in the future.I’ll explain it on the chart as well.We’ll have to wait and see what the future brings!
In the last part, you learned a bit about history.
In this section, I’ll explain how the rate will change in the future.
I’ll explain it on the chart as well.
We’ll have to wait and see what the future brings!
Before I go any further, I’d like to make one more point.
The charts I’ll show you are only estimates.
As previously stated, the exchange rate depends on economic factors.
So, no one can forecast the precise price levels.
As a result, it is essential to have a more thorough understanding of market principles and functions.
With that, let’s talk about the year ahead.
I’m going to go month by month,
So it takes the fuss out of the equation.
As January has ended, I’ll explain from February.
GBP to ZAR forecast 2022
In February, we are gonna see more of the previous month.
So the price can range between 20 and 21.
We can see the price hanging between these levels for the entire year.
The price can dip from March till June, but not too much.
It can hang between 19 and 21 levels.
August is the highest month according to the forecast table.
We can see a tight range of 21.
From September till December, the price will continue the average trend.
And we can see a range between 20 and 21.
So, there’s a consistency, as the price can maintain its current levels.
Will 2023 bring GBP bulls down?
Let’s find out.
The chart shows that 2023 can halt GBP bulls.
GBP to ZAR forecast 2023
We can see a price drop.
For the first five months, the price will remain between 20 and 21.
In June and July, the rate can remain between 19 and 20.
After July 2023, we can expect a dip.
The price can travel between 18 and 19.
And the trend will continue for the rest of the year.
The rates can fluctuate in a tight range of 18 and 19.
However, according to the table, we’ll see a dip in prices from 2022.
So, buckle up, as ZAR can halt some GBP bulls.
Will ZAR weaken?
As the South African economy recovers from the pandemic, we can see more of the same from last year. According to the figures, the GDP figure won’t increase much. However, in 2023, we can see a change as the rand becomes stronger.
What is the GBP to ZAR buying and selling rate?
The current pound-to-rand buying rate is 20.93, while the selling rate is 20.93. While looking for buying and selling rates, make sure to check the official bank rates, as many exchange rate companies differ in pricing.
How to convert GBP to ZAR?
To calculate GBP to ZAR, you can use SafeTrade’s currency converter. It allows you to swap the rates of both currencies without any hassle. So, you don’t have to calculate them manually.
How to transfer GBP to ZAR?
To make a transfer, you need exchange services. There are plenty of exchange services you can try. Then, you just convert what amount you want to and transfer GBP to ZAR.
That’s all there is to it!
You now know everything there is to know about GBP to ZAR.
Keep in mind that the above table just displays forecasts.
It is not financial advice.
Before investing, take into account all of the things I listed earlier.
SafeTrade Binary Options is a content and service provider.
The content you see on our website, whether we state opinions, is for educational purposes only.
You shouldn’t take this as investment guidance.
No content in the guide is a recommendation by the author or SafeTrade Binary Options, and it isn’t suitable for any investment.