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base info NEAR Protocol

NEAR Protocol to South African Rand Converter and calculator

Convert 1NEAR Protocol (NEAR) to South African Rand (ZAR) equals R 99.58 | 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 NEAR Protocol currency pair is the NEAR to ZAR, with for NEAR Protocol's currency code being NEAR. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for ZAR.

NEAR to ZAR conversion rate trend

1D7D1M3M1YAll
In the past 1D, NEAR Protocol has changed -0.49% to ZAR. Based on the trend and price charts, NEAR Protocol(NEAR) has changed -0.49% to ZAR while South African Rand(ZAR) has changed % to NEAR in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
R102.26
0.0001% / 0.0004%vip-iconVIP
Binance
R102.31
0.1000% / 0.1000%
Yes
Coinbase Exchange
R102.21
0.1000% / 0.1000%
Yes
OKX
R102.23
0.080% / 0.100%
Yes
Huobi
R102.29
0.1000% / 0.1000%
Yes
Gate.io
R102.29
0.1000% / 0.1000%
Yes
Bybit
R102.3
0.1000% / 0.1000%
Yes
KuCoin
R102.27
0.1000% / 0.1000%
Yes
Bitfinex
R102.4
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 17:00:30(UTC+0)

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

NEAR Protocol to South African Rand is falling this week.
NEAR Protocol's current market price is R 99.58 per NEAR, with a total market cap of R 106,145,687,041.64 ZAR based on a circulating supply of 1,065,959,040 NEAR. The trading volume of NEAR Protocol has changed by +74.08% (R 12,653,394,772.99 ZAR) in the last 24 hours. Last trading day, NEAR's trading volume was R 17,080,601,201.38.
Market cap
$5.64B
24h volume
$1.58B
Circulating supply
1.07B NEAR

Conversion tables

The exchange rate of NEAR Protocol is decreasing.
1 NEAR is currently valued at R 99.58 ZAR , which means buying 5 NEAR will cost R 497.89 ZAR . Similarly, R1 ZAR can be traded for 0.01004 NEAR, and R50 ZAR can be converted to 0.5021 NEAR, excluding any platform or gas fees.
The exchange rate of 1 NEAR to South African Rand has changed by -24.07% in the last 7 days. In the last 24 hours, the rate has fluctuated by -0.49%, reaching a high of 105.6 ZAR and a low of 81.34 ZAR . One month ago, the value of 1 NEAR was R 137.17 ZAR , which represents a -27.46% change from its current value. Over the last year, NEAR Protocol has changed by
+R
17.9ZAR
, resulting in a change of +126.93% in its value.

NEAR to ZAR

Amount
17:33 today
0.5 NEAR
R49.79
1 NEAR
R99.58
5 NEAR
R497.89
10 NEAR
R995.78
50 NEAR
R4,978.88
100 NEAR
R9,957.76
500 NEAR
R49,788.82
1000 NEAR
R99,577.64

ZAR to NEAR

Amount17:33 today
0.5ZAR0.005021  NEAR
1ZAR0.01004  NEAR
5ZAR0.05021  NEAR
10ZAR0.1004  NEAR
50ZAR0.5021  NEAR
100ZAR1  NEAR
500ZAR5.02  NEAR
1000ZAR10.04  NEAR
share

Today vs. 24 hours ago

Amount17:33 today24 hours ago24h change
0.5 NEAR$2.65$2.66
-0.49%
1 NEAR$5.29$5.32
-0.49%
5 NEAR$26.45$26.58
-0.49%
10 NEAR$52.91$53.17
-0.49%
50 NEAR$264.55$265.84
-0.49%
100 NEAR$529.1$531.67
-0.49%
500 NEAR$2,645.5$2,658.37
-0.49%
1000 NEAR$5,291$5,316.75
-0.49%

Today vs. 1 month ago

Amount17:33 today1 month ago1M change
0.5 NEAR$2.65$3.64
-27.46%
1 NEAR$5.29$7.29
-27.46%
5 NEAR$26.45$36.44
-27.46%
10 NEAR$52.91$72.89
-27.46%
50 NEAR$264.55$364.43
-27.46%
100 NEAR$529.1$728.86
-27.46%
500 NEAR$2,645.5$3,644.31
-27.46%
1000 NEAR$5,291$7,288.61
-27.46%

Today vs. 1 year ago

Amount17:33 today1 year ago1Y change
0.5 NEAR$2.65$1.17
+126.93%
1 NEAR$5.29$2.34
+126.93%
5 NEAR$26.45$11.7
+126.93%
10 NEAR$52.91$23.4
+126.93%
50 NEAR$264.55$116.99
+126.93%
100 NEAR$529.1$233.98
+126.93%
500 NEAR$2,645.5$1,169.9
+126.93%
1000 NEAR$5,291$2,339.8
+126.93%

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.