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base info OKB

OKB to South African Rand Converter and calculator

Convert 1OKB (OKB) to South African Rand (ZAR) equals R 1,033.76 | 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 OKB currency pair is the OKB to ZAR, with for OKB's currency code being OKB. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for ZAR.

OKB to ZAR conversion rate trend

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In the past 1D, OKB has changed +3.01% to ZAR. Based on the trend and price charts, OKB(OKB) has changed +3.01% to ZAR while South African Rand(ZAR) has changed % to OKB in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
R1,033.76
0.0001% / 0.0004%vip-iconVIP
OKX
R1,003.54
0.080% / 0.100%
Yes
Gate.io
R1,003.54
0.1000% / 0.1000%
Yes
Last updated 2024/04/15 06:00:26(UTC+0)

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

OKB to South African Rand is falling this week.
OKB's current market price is R 1,033.76 per OKB, with a total market cap of R 62,025,842,669.5 ZAR based on a circulating supply of 60,000,000 OKB. The trading volume of OKB has changed by -47.60% (R -184,473,930.83 ZAR) in the last 24 hours. Last trading day, OKB's trading volume was R 387,577,959.
Market cap
$3.29B
24h volume
$10.78M
Circulating supply
60.00M OKB

Conversion tables

The exchange rate of OKB is decreasing.
1 OKB is currently valued at R 1,033.76 ZAR , which means buying 5 OKB will cost R 5,168.82 ZAR . Similarly, R1 ZAR can be traded for 0.0009673 OKB, and R50 ZAR can be converted to 0.04837 OKB, excluding any platform or gas fees.
The exchange rate of 1 OKB to South African Rand has changed by -5.98% in the last 7 days. In the last 24 hours, the rate has fluctuated by +3.01%, reaching a high of 1,033.79 ZAR and a low of 965.68 ZAR . One month ago, the value of 1 OKB was R 1,236.25 ZAR , which represents a -16.38% change from its current value. Over the last year, OKB has changed by
+R
14.37ZAR
, resulting in a change of +1.41% in its value.

OKB to ZAR

Amount
06:41 am today
0.5 OKB
R516.88
1 OKB
R1,033.76
5 OKB
R5,168.82
10 OKB
R10,337.64
50 OKB
R51,688.2
100 OKB
R103,376.4
500 OKB
R516,882.02
1000 OKB
R1,033,764.04

ZAR to OKB

Amount06:41 am today
0.5ZAR0.0004837  OKB
1ZAR0.0009673  OKB
5ZAR0.004837  OKB
10ZAR0.009673  OKB
50ZAR0.04837  OKB
100ZAR0.09673  OKB
500ZAR0.4837  OKB
1000ZAR0.9673  OKB
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Today vs. 24 hours ago

Amount06:41 am today24 hours ago24h change
0.5 OKB$27.44$26.64
+3.01%
1 OKB$54.88$53.28
+3.01%
5 OKB$274.42$266.42
+3.01%
10 OKB$548.85$532.83
+3.01%
50 OKB$2,744.23$2,664.17
+3.01%
100 OKB$5,488.47$5,328.35
+3.01%
500 OKB$27,442.34$26,641.73
+3.01%
1000 OKB$54,884.69$53,283.46
+3.01%

Today vs. 1 month ago

Amount06:41 am today1 month ago1M change
0.5 OKB$27.44$32.82
-16.38%
1 OKB$54.88$65.63
-16.38%
5 OKB$274.42$328.17
-16.38%
10 OKB$548.85$656.35
-16.38%
50 OKB$2,744.23$3,281.75
-16.38%
100 OKB$5,488.47$6,563.5
-16.38%
500 OKB$27,442.34$32,817.48
-16.38%
1000 OKB$54,884.69$65,634.96
-16.38%

Today vs. 1 year ago

Amount06:41 am today1 year ago1Y change
0.5 OKB$27.44$27.06
+1.41%
1 OKB$54.88$54.12
+1.41%
5 OKB$274.42$270.61
+1.41%
10 OKB$548.85$541.22
+1.41%
50 OKB$2,744.23$2,706.09
+1.41%
100 OKB$5,488.47$5,412.18
+1.41%
500 OKB$27,442.34$27,060.88
+1.41%
1000 OKB$54,884.69$54,121.75
+1.41%

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.