Convert GBP to ZAR - British pound sterling to South African rand Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE GBP/ZAR EXCHANGE RATE
The exotic currency pair GBP/ZAR trades the British Pound against the South African Rand, and while it does not see as much trading activity as major currency pairs, it is still an exciting pair which offers ample opportunities for generating profits, as long as it is traded carefully.While the GBP is one of the leading reserve currencies, the ZAR is considered an emerging market currency. The currency pair GBP/ZAR sees considerable volatility as the ZAR is also a commodity currency, which sees significant fluctuations depending on the prices of gold, platinum and chromium - key exports from South Africa.The exchange rate of GBP/ZAR is also affected by the release of important economic data from Britain and South Africa, including GDP, CPI, PPI, business confidence, manufacturing activity, trade balance, unemployment rate and retail sales. In addition, monetary policy and interest rate decisions by the Bank of England and the South African Reserve Bank can also cause changes in the value of the GBP and the ZAR respectively.
GBP to ZAR CONVERSION RATES
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<% amount / currencies.converter.rate |toFixed: 4 %> GBP
GBP to ZAR CHARTS
GBP/ZAR Live Chart
GBP/ZAR Historical Chart
GBP to ZAR EXCHANGE RATE - FAQ
What was the highest exchange rate for GBP/ZAR this year?

GBP/ZAR soared to a high of 23.179 on 6 May 2020. This was the strongest this currency pair has traded so far this year.

How volatile is the GBP/ZAR currency pair?

This currency pair is more volatile than most of the leading forex pairs, owing to the volatility in the value of the South African Rand. As a commodity currency, its price fluctuates on the basis of gold prices as gold is a key export from South Africa and a major contributor to its economy. In addition, the ZAR also sees increased volatility due to political unrest in the country as well as overall global uncertainty, as South Africa is an emerging economy heavily reliant on international trade.

How do central banks affect the exchange rate of GBP/ZAR?

Domestic monetary policy has a significant impact on the value of a currency. For instance, tighter monetary policy or higher interest rates signal increased confidence in the economy, which in turn serve to strengthen the currency. In the case of GBP/ZAR, for instance, when the BOE hikes interest rates or announces a more hawkish stance in its monetary policy, the GBP strengthens and turns this currency pair bullish, and vice versa.