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base info Dai

Dai to South African Rand Converter and calculator

Convert 1Dai (DAI) to South African Rand (ZAR) equals R 18.82 | Bitget

ZAR information

About the South African Rand (ZAR)

What Is the South African Rand (ZAR)?

The South African Rand, designated as ZAR and symbolized as R, is the official currency of the Republic of South Africa. It is also recognized in the Common Monetary Area, shared with Lesotho, Namibia, and Eswatini, where it circulates alongside local currencies. The Rand is subdivided into 100 cents.

The South African Rand is issued by the South African Reserve Bank (SARB). The SARB is the central bank of South Africa and is responsible for the production and distribution of banknotes and coins in the country. It oversees the monetary policy and maintains financial stability in South Africa, playing a crucial role in the economy of the nation.

What Is the History of ZAR?

The Rand takes its name from the Witwatersrand, meaning "white waters' ridge" in Afrikaans, which is the location of Johannesburg and a major gold-mining area. Introduced in 1961 when South Africa became a republic, it replaced the South African pound at a rate of 2 Rand to 1 pound.

Notes and Coins of ZAR

South African coins are issued in denominations of 1, 2, 5, 10, 20, and 50 cents, and 1, 2, and 5 Rands. Banknotes are available in 10, 20, 50, 100, and 200 Rand denominations. Since 2012, banknotes have featured Nelson Mandela on the front and the "Big Five" wild animals on the back. Commemorative notes released in 2018 feature Mandela's images.

Exchange Rate History of ZAR

Initially, the Rand was strong, trading at 1.40 USD in its early years. However, due to inflation and international opposition to apartheid, its value declined. By 1985, it traded at 2 Rands per USD and continued to depreciate, reaching over 6 ZAR/USD by 1999 and nearly 14 ZAR/USD by 2001. After recovering to about 6-to-1 against the dollar by 2006, it faced another decline due to a slowdown in the mining industry and global economic factors. In 2016, it reached an all-time low of nearly 18 ZAR/USD.

What Is The Common Monetary Area?

The Common Monetary Area (CMA) is a monetary union in Southern Africa comprising South Africa, Namibia, Lesotho, and Eswatini. It facilitates the free movement of capital and services among these nations, with the South African Rand (ZAR) serving as the primary currency. Within this union, while each member country has its own currency, the Rand is also legal tender and the local currencies are pegged at par with the Rand. This arrangement ensures economic stability and fosters cooperation among the member states. The South African Reserve Bank plays a pivotal role in influencing the monetary policy across the CMA, thereby promoting a higher degree of economic integration and facilitating seamless trade and financial transactions across these national borders.

Is ZAR a Stable Currency?

The South African Rand (ZAR) has historically exhibited a degree of volatility, influenced by a combination of domestic challenges and global economic factors. Internally, issues such as political uncertainty, governance concerns, and high unemployment rates have impacted its stability, while externally, it remains sensitive to global market sentiments and fluctuations in commodity prices, notably gold, given South Africa's status as a major producer. Although there have been phases where the Rand demonstrated resilience, its nature as an emerging market currency often subjects it to rapid valuation shifts in response to both local and international events. This characteristic renders the Rand more volatile compared to currencies from more economically stable regions, leading to a general perception of it being less stable, especially when measured against major global currencies like the US Dollar.

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Bitget crypto-to-fiat exchange data shows that the most popular Dai currency pair is the DAI to ZAR, with for Dai's currency code being DAI. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for ZAR.

DAI to ZAR conversion rate trend

1D7D1M3M1YAll
In the past 1D, Dai has changed +0.01% to ZAR. Based on the trend and price charts, Dai(DAI) has changed +0.01% to ZAR while South African Rand(ZAR) has changed % to DAI in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
R18.79
0.0001% / 0.0004%vip-iconVIP
Kraken
R18.81
0.1000% / 0.1000%
Yes
OKX
R18.81
0.080% / 0.100%
Yes
Huobi
R18.81
0.1000% / 0.1000%
Yes
Gate.io
R18.78
0.1000% / 0.1000%
Yes
Bybit
R18.79
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 11:00:25(UTC+0)

What factors influence the conversion rate of Dai to South African Rand?

Dai to South African Rand is rising this week.
Dai's current market price is R 18.82 per DAI, with a total market cap of R 100,648,471,275.26 ZAR based on a circulating supply of 5,347,888,600 DAI. The trading volume of Dai has changed by -7.25% (R -1,134,408,399.95 ZAR) in the last 24 hours. Last trading day, DAI's trading volume was R 15,648,955,042.04.
Market cap
$5.35B
24h volume
$771.22M
Circulating supply
5.35B DAI

Conversion tables

The exchange rate of Dai is increasing.
1 DAI is currently valued at R 18.82 ZAR , which means buying 5 DAI will cost R 94.1 ZAR . Similarly, R1 ZAR can be traded for 0.05313 DAI, and R50 ZAR can be converted to 2.66 DAI, excluding any platform or gas fees.
The exchange rate of 1 DAI to South African Rand has changed by +0.01% in the last 7 days. In the last 24 hours, the rate has fluctuated by +0.01%, reaching a high of 18.84 ZAR and a low of 18.81 ZAR . One month ago, the value of 1 DAI was R 18.82 ZAR , which represents a +0.02% change from its current value. Over the last year, Dai has changed by
+R
0.002752ZAR
, resulting in a change of +0.01% in its value.

DAI to ZAR

Amount
11:34 am today
0.5 DAI
R9.41
1 DAI
R18.82
5 DAI
R94.1
10 DAI
R188.2
50 DAI
R941.01
100 DAI
R1,882.02
500 DAI
R9,410.11
1000 DAI
R18,820.23

ZAR to DAI

Amount11:34 am today
0.5ZAR0.02657  DAI
1ZAR0.05313  DAI
5ZAR0.2657  DAI
10ZAR0.5313  DAI
50ZAR2.66  DAI
100ZAR5.31  DAI
500ZAR26.57  DAI
1000ZAR53.13  DAI
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Today vs. 24 hours ago

Amount11:34 am today24 hours ago24h change
0.5 DAI$0.5000$0.4999
+0.01%
1 DAI$1$0.9999
+0.01%
5 DAI$5$5
+0.01%
10 DAI$10$10
+0.01%
50 DAI$50$49.99
+0.01%
100 DAI$100$99.99
+0.01%
500 DAI$500$499.94
+0.01%
1000 DAI$1,000$999.88
+0.01%

Today vs. 1 month ago

Amount11:34 am today1 month ago1M change
0.5 DAI$0.5000$0.4999
+0.02%
1 DAI$1$0.9998
+0.02%
5 DAI$5$5
+0.02%
10 DAI$10$10
+0.02%
50 DAI$50$49.99
+0.02%
100 DAI$100$99.98
+0.02%
500 DAI$500$499.88
+0.02%
1000 DAI$1,000$999.76
+0.02%

Today vs. 1 year ago

Amount11:34 am today1 year ago1Y change
0.5 DAI$0.5000$0.4999
+0.01%
1 DAI$1$0.9999
+0.01%
5 DAI$5$5
+0.01%
10 DAI$10$10
+0.01%
50 DAI$50$49.99
+0.01%
100 DAI$100$99.99
+0.01%
500 DAI$500$499.93
+0.01%
1000 DAI$1,000$999.86
+0.01%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.