Rand is one of the most undervalue currencies against the British pounds. The South African Rand has always performed badlyagainstthe British pound. Though the rand is one of the iconic note features
History Of Pound And Rand
Today, 1 British pound is 19.6759 South African Rand, a rate some South African businessmen want to be maintained. It has somewhat added value compared to some few days ago. As of
10 March 2022 1 GBP was 19.719
28 January 2022 1 GBP was 20. 716 ZAR
1O January 2022 1 GBP was 21. 303 ZAR
18th November 2021, 1 GBP was 21.123 ZAR
A random study of the relationship between the Pound within recent times is however suggests that the Rand is somewhat stable. Since the Country’s independence in 1994, the Rand started on a bad note and hasn’t since been steady. 1GBP in 1994 was 5.442854 ZAR, So below are some years and corresponding 1 GBP equivalent
2006 12. 495629
2009 13. 094167
2012 13. 020269
The Rand per the data above keeps declining over the years, As to when it will see any significant improvement is not known.
Meanwhile, the increase in value of the South African Rand is a result of the Russia-Ukraine war. Russia in response to the sanctions from the West is considering halting the export of raw materials from the West which in turn increases the value of the South African exports such as Precious and Industrial Metal. However, the Pound was not as sensitive to the War as the Rand
Meanwhile, while the export of Precious and Industrial Metal is yet to happen, The rise in the price of fuel and other raw materials however is likely to affect the Rand which will in turn depreciate it value all over again.