Sources and method
Rand Converter is an automated currency converter for the South African rand. It does not trade, hold funds or offer financial advice; it simply publishes official reference rates and converts between currencies using them.
Where the rates come from
The rates are supplied by Frankfurter, a reference service that blends the rates published by central banks. The figure you see is therefore not the central bank's own fixing: it is a reference rate assembled from official sources and passed on to this site unchanged. Each figure carries the date it applies to, , and a small reference number that points to the sources list, so you can trace where it came from.
Conversions through the dollar
Some currencies are not published directly by the central bank. For those, the conversion is worked out through the dollar: the rand is taken to the dollar and the dollar to the other currency, and the result is combined. This is a standard cross-rate method and keeps the output consistent with the published figures.
How old a rate is
Rates are published once on working days. A rate is judged old when the next scheduled publication has not yet arrived. After a long gap, the site stops showing the figure rather than carry a stale rate forward.
What is not published here
Bank buying and selling rates are not published on this site. Those are commercial prices set by each institution and differ from the reference rate. Nothing is rounded for display beyond the decimals shown, so the figure you read is the figure received.
No parallel-market figures
The site does not print any parallel-market figure. Such rates are unofficial, vary between dealers and cannot be traced to a published source, so they have no place in a converter built on official data.
Sources
Every figure on this page points here by its number.
- 1ReferenceFrankfurter, reference rates of central banks (ECB-based)frankfurter.devthe rates of this site, through the dollar
- 2WidgetTradingViewtradingview.comthe live widget only; never a printed figure