South African Rand
The currency of South Africa is the rand (ZAR).
South Africa is well-endowed with natural resources. It exports precious metals and base metals.
Historically, the country’s balance of trade was near neutral: Imports were approximately equal to exports. Since COVID-19, South Africa has become a net exporter.
South Africa is a member of the BRICS group of emerging market economies. It has the youngest population of the countries whose currencies we offer.
About South Africa
GDP1
$406
Billion
USD
Major Exports2
Platinum
Gold
Iron Ore
Major Export Partners2
China
U.S.
Germany
Budget Deficit3
-4.2%
Trade Flows4
113
Billion
ZAR
Pros and Cons of the South African Rand
- Exposure to a major emerging market economy5
- Commodity-driven6
- Higher interest rates and yield appeal7
- High volatility and sensitivity to global risk sentiment8
- Domestic political and economic uncertainty9
- Vulnerability to commodity and external shocks10
1. https://tradingeconomics.com/country-list/gdp-per-capita
2. https://tradingeconomics.com/country-list/exports;?continent=g20
3. https://tradingeconomics.com/country-list/government-budget?continent=world
4. https://tradingeconomics.com/country-list/balance-of-trade
5.https://www.worldbank.org/en/country/southafrica/overview
6. https://www.southafrica.info/business/economy/sectors/mining.htm
7. https://www.resbank.co.za/en/home/what-we-do/monetary-policy
8. https://www.bis.org/statistics/rpfx22_fx.htm
9. https://www.imf.org/en/Countries/ZAF
10. https://www.trade.gov/knowledge-product/exporting-south-africa-market-overview
How to Buy the South African Rand
Currency CD
Term
APY
3 Month
4.58%
6 Month
4.58%
9 Month
4.58%
12 Month
4.58%
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance
APY
All Balances
0.00%
Available Currencies
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South African Rand
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