OFX USD to ZAR Exchange Rates

OFX at a glance

OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.

OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.

OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.

When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.

*Minimum transfer amount apply. Please note that the receiving bank or intermediary bank may charge fees on transactions.

@bestfxrates : 📈 USD to ZAR Update: Strong USD driven by a robust US economy & high Treasury yields keeps pressure on major currencies, including ZAR. FX analysts see potential USD pullback as Fed rate hike cycle ends. However, ZAR struggles with internal challenges & geopolitical tensions. #USDZAR at 18.81, near 3-mo avg. While lower oil prices may offer ZAR relief, market sentiment remains cautious amid complex influences. Stay tuned for shifts. #Forex #CurrencyTrading

USD to ZAR Market Data

US dollar (USD) to South African rand (ZAR) market data - latest interbank mid-rate, trend, chart & historic rates.

1 USD = ZAR

USD to ZAR at 18.81 is near its 3-month average, having traded in a relatively stable 7.1% range from 18.21 to 19.50

05-DEC 2AM-NY 7AM-LON 3PM-HK 6PM-SYD

Sell USD → Buy ZAR

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1 ZAR = 0.053094 USD

1-DAY +0.9%▲

Date	USD/ZAR	Change	Period
20 Nov 2023	18.34	2.6% ▲	2 Week
05 Sep 2023	19.14	1.7% ▼	3 Month
04 Dec 2022	17.30	8.7% ▲	1 Year
05 Dec 2018	13.86	35.7% ▲	5 Year
06 Dec 2013	10.35	81.7% ▲	10 Year
09 Dec 2003	6.3992	193.9% ▲	20 Year

USD/ZAR historic rates & change to 04-Dec-2023

Forecasts for USD to ZAR

1-DAY +0.9%▲

05 DecThe USD to ZAR exchange rate has been influenced by a strong U.S. dollar, which according to a Reuters Poll of Forex Strategists, has been supported by a robust U.S. economy and high Treasury yields. FX analysts expect that it may be tough for most major currencies, including the South African rand, to overcome the dollar's momentum by year-end. Despite this, there is an anticipation of a gradual weakening of the dollar against major currencies into the next year as the Federal Reserve is on track to approach its first interest rate cut. This suggests that while the dollar may retain its strength in the short term, there is an expectation for a modest reversal as the Fed concludes its interest rate hikes cycle.

Read our full USD to ZAR forecasts analysis

How to get a good USD to ZAR exchange rate

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

Shop around for the best USD/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 USD/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 USD 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 US dollar, then it's better for the USD/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 US 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 USD/ZAR to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

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Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.

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.

Country Currency Guides

United States (USD)

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

Related exchange rates

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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