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.

Bitcoin

Bitcoin

Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, thefts from exchanges, and the possibility that bitcoin is an economic bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.

90417 South African Rand to Bitcoin exchange rates chart

90417 ZAR to BTC exchange rates graph
90417 ZAR to BTC 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.

90417 ZAR to BTC exchange rates table

Exchange ZAR to BTC
90417 South African Rand = 1.810 Bitcoin
180834 South African Rand = 3.621 Bitcoin
452085 South African Rand = 9.052 Bitcoin
904170 South African Rand = 18.104 Bitcoin
Exchange South African Rand to Bitcoin
90417 South African Rand to Bitcoin 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.

90417 ZAR to BTC 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 2 months 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
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Fortune 500 Daily & Breaking Business News

3 days conditional positive
Bitcoin trading in a narrow range around the $3,600 level today

Bitcoin has not dropped further but is trading mostly sideways within a narrow range near the $3,600 level. It remains to be seen if Bitcoin will suffer another monthly loss this January as appears to be happening.

4 days conditional negative
South Africa Goes After Bitcoin Owners

The SARB does admit that Bitcoin and other cryptocurrencies could become illegal in the country, but there’s no need to worry about that (for now)

6 days indicative positive
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Fortune 500 Daily & Breaking Business News

10 days conditional positive
Five reasons Bitcoin could enter a more extreme death spiral

Bitcoin has been on a downward ride over the last year, plummeting down. It could get worse

15 days conditional neutral

90417 ZAR to BTC currency converter