South African Rand

South African Rand

The rand (sign: R; code: ZAR) is the currency of South Africa. The Rand is subdivided into 100 cents (sign: "c"). The ISO 4217 code is ZAR, from Dutch Zuid-Afrikaanse Rand (South African Rand). The Rand is legal tender in the Common Monetary Area between South Africa, Swaziland, Lesotho, and Namibia, although the last three countries do have their own currencies pegged at par with rand. Before 1976, the rand was legal tender in Botswana.

Ghanaian Cedi

Ghanaian Cedi

The Ghanaian cedi (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp). After it gained independence Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. The new republic's first independent currency was the Ghanaian pound (1958-1965). In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. The African name Cedi (1965-1967) was introduced in place of the old British pound system. Ghana's first President Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The cedi was equivalent to eight shillings and four pence (8s 4d) and bore the portrait of the President. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. The "new cedi" (1967-2007) was worth 1.2 cedis which made it equal to half of a pound sterling at its introduction. After decades of high inflation devalued the new cedi, it was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. In 2007 the largest of the new cedi banknotes, the 20,000 note, had a value of about US$2. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. It has since lost about 75% of its value.

2 South African Rand to Ghanaian Cedi exchange rates chart

2 ZAR to GHS exchange rates graph
2 ZAR to GHS Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

2 ZAR to GHS exchange rates table

Exchange ZAR to GHS
2 South African Rand = 0.706 Ghanaian Cedi
4 South African Rand = 1.412 Ghanaian Cedi
10 South African Rand = 3.531 Ghanaian Cedi
20 South African Rand = 7.062 Ghanaian Cedi
Exchange South African Rand to Ghanaian Cedi
2 South African Rand to Ghanaian Cedi Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

2 ZAR to GHS exchange rates news

Rand gains ahead of GDP data

The rand moved in tandem with other emerging markets which have been buoyed by thaw in tensions between the world’s top two economies as presidents Donald Trump and Xi Jinping struck a deal at the G20 summit over the weekend in Argentina.

about 1 month conditional positive
South Africa's Rand Falls to 2-Year Low As Turkey Rout Spreads

Magnitude of rand's slide came after three days of heavy losses and caught South African Reserve Bank by surprise, but deputy governor at bank told Reuters that regulator was 'nowhere near' intervening to support currency

about 2 months conditional positive
It's Bad; Times Are Really Hard In Ghana – Yvonne Nelson

It's Bad; Times Are Really Hard In Ghana – Yvonne Nelson

about 1 month indicative negative
Cedi, 7 Others Appreciate Against Dollar

Cedi, 7 Others Appreciate Against Dollar

about 2 months indicative neutral
Recent cedi depreciation is temporary - BoG Official

The recent blip in the foreign exchange market that saw a slight depreciation of the cedi against the dollar is short-term and a reflection of a spillover from external developments, an official of the Bank of Ghana has said.

about 2 months conditional positive
Akufo-Addo’s cedi performance in 18 months impressive than NDC’s 6 years – Ofori-Atta

The Finance Minister, Ken Ofori-Atta says although the cedi has come under extreme external pressure, its performance in the past 18 months under the Akufo-Addo-led administration is one of the best.

about 2 months indicative positive
The invisible hand of government in cedi depreciation

As the normal principle of economics says, when a domestic currency depreciates it makes the prices of goods and services decline compared to the international prices.

about 2 months conditional neutral

2 ZAR to GHS currency converter