Live Exchange Rates - GBP/ZAR
Current tradable exchange rates, live from OANDA fxTrade
Understanding live exchange rates
OANDA is electronically connected to numerous global banks to access the best currency rates for its forex traders, and electronic algorithms on OANDA’s fxTrade servers update exchange rates tick-by-tick, in periods of less than a second. The currency rates shown on this page are updated less frequently, but are still a close reflection of the rates available to forex traders right now.
GBP/ZAR at a Glance
British Pound Sterling (Currency code: GBP)
- Central bank: The Bank of England
- The pound (also called “cable”) is the world’s oldest currency still in use and was the de facto global currency until WW II.
- The economy of Great Britain (or the United Kingdom) is the third largest in Europe, after Germany and France.
- Napoleon famously called the UK “a nation of shopkeepers”. Banking, insurance, and business services still account for a large proportion of the British GDP.
South African Rand (Currency code: ZAR)
- Central bank: The South African Reserve Bank
- “Rand” refers to Witwatersrand, the ridge where Johannesburg stands that contains most of the country’s gold deposits.
- South Africa is a middle-income, emerging market with abundant natural resources and well-developed infrastructure.
- South Africa is the world’s largest producer of platinum, gold, and chromium. In addition to these and other metals, it exports machinery, equipment, diamonds.
- Relatively high interest rates make ZAR a popular carry trade currency.