Scotiabank CAD to ZAR Exchange Rates

Scotiabank at a glance

Scotiabank is a Canadian multinational bank and a leading financial institution in North and South America. The bank offers a wide range of financial products and services to individuals, businesses, and institutions, including banking, investment, and insurance services.

One of the financial products offered by Scotiabank is wire transfers. Wire transfers are a secure and fast way to transfer funds between banks in different countries. With Scotiabank wire transfers, you can send money to over 100 countries in a variety of currencies.

When you get a quote for your Wire Transfer from Scotiabank on their website or in-app, you can also see the Scotiabank exchange rate, but it can be difficult to then calculate how much markup from the market rate you are being charged.

Our research shows that on average, Scotiabank profit margin for foreign exchange rates is somewhere between 3 - 8%, depending on the amount you're sending, where you're sending it to and which currency will be received.

While all banks in Canada charge this markup, the extra amount being charged is much higher than it would be with a global money transfer specialist.

CAD to ZAR Market Data

Canadian dollar (CAD) to South African rand (ZAR) market data - latest interbank exchange rate, trend, chart & historic rates.

1 CAD = ZAR

-0.5%

3M▼

CAD to ZAR is at 90-day lows near 12.98, 1.9% below its 3-month average of 13.23, having traded in a quite stable 5.1% range from 12.98 to 13.64

16-SEP 6PM-NY 11PM-LON 17-SEP 6AM-HK 8AM-SYD

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1 ZAR = 0.077048 CAD

Date	CAD/ZAR	Change	Period
02 Sep 2024	13.20	1.7% ▼	2 Week
18 Jun 2024	13.15	1.3% ▼	3 Month
17 Sep 2023	14.04	7.5% ▼	1 Year
18 Sep 2019	11.05	17.5% ▲	5 Year
19 Sep 2014	10.10	28.5% ▲	10 Year
21 Sep 2004	4.9951	159.9% ▲	20 Year

CAD/ZAR historic rates & change to 16-Sep-2024

What are equivalent amounts of CAD and ZAR?

Here are some popular conversion amounts for CAD to ZAR (Canadian dollar to South African rand)*.

CAD	ZAR
C$ 1	R 12.98
C$ 5	R 64.90
C$ 10	R 129.80
C$ 20	R 259.60
C$ 50	R 649.00
C$ 100	R 1,298
C$ 250	R 3,245
C$ 500	R 6,490
C$ 1,000	R 12,980
C$ 2,000	R 25,960
C$ 5,000	R 64,900
C$ 10,000	R 129,800
C$ 20,000	R 259,600
C$ 50,000	R 649,000
C$ 100,000	R 1,298,000

CAD	ZAR
C$ 0.0770	R 1
C$ 0.3852	R 5
C$ 0.7705	R 10
C$ 1.5410	R 20
C$ 3.8524	R 50
C$ 7.7048	R 100
C$ 19.26	R 250
C$ 38.52	R 500
C$ 77.05	R 1,000
C$ 154.10	R 2,000
C$ 385.24	R 5,000
C$ 770.48	R 10,000
C$ 1,541	R 20,000
C$ 3,852	R 50,000
C$ 7,705	R 100,000

More amounts

*Converted at the current CADZAR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.

Forecasts for CAD to ZAR

17 SepRecent forecasts for the CAD to ZAR exchange rate suggest a mixed outlook as the Canadian dollar (CAD) encounters pressure despite rising oil prices. Analysts note that the CAD has been negatively influenced by its correlation with the US dollar, resulting in a weakened position even in the face of increasing oil prices. Market observers expect further depreciation of the CAD following the release of Canada's consumer price index, with indicators pointing to a cooling in domestic inflation. This context is crucial since Canada relies heavily on oil exports, particularly to the US, which consumes significantly more oil than it produces. Given that oil prices are currently at 72.96 USD, approximately 9.3% below their three-month average, the potential adverse impact on the CAD from fluctuating energy markets remains a key concern.

Read our full review of recent CAD to ZAR forecasts.

How to get a good CAD to ZAR exchange rate

There are several ways to save on exchange rates when converting Canadian dollar to South African rand:

Shop around for the best CAD/ZAR exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
Timing is important: Keep an eye on the CAD/ZAR rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both CAD and ZAR at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

The key is reducing excessive costs and fees

Generally speaking, if you are buying South African rand with Canadian dollar, then it's better for the CAD/ZAR exchange rate to be higher.

However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).

The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

Will the Canadian dollar rise against the South African rand?

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add CAD/ZAR to your personalised Rate Tracker to track and benefit from currency movements.

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Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

Keep track of currency Trends; Up📈 or Down📉 trends over periods from 1 week (1W) to 3 months (3M).

Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending

Read our Currency guide to South Africa - a practical currency and money guide to travel, living and doing business in South Africa with the South African rand.

Currency Country Guides

Canada (CAD)

South Africa (ZAR)

Is it safe in South Africa?

South Africa has a high crime rate, and certain areas or neighborhoods can be dangerous for foreigners. However, many areas are safe and tourist-friendly. It is important to exercise caution and be aware of your surroundings, avoid carrying valuables and stay in well-populated areas. Americans travelling to South Africa are recommended to check the U.S. Department of State website for travel advisories and to register with the Smart Traveler Enrollment Program.

What is the cost of living in South Africa?

The cost of living in South Africa is relatively low compared to other countries in the world. However, it is important to note that the cost of living can vary greatly depending on the specific location within the country.

Read more at our South Africa (ZAR) country guide

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