Today, 1.00 (one) Pound is worth 23.06 Rand, ie, £1.00 = R23.06. That's because the current exchange rate, to ZAR, is 23.06. So, to make Pound to Rand conversion, you just need to multiply the amount in GBP by 23.06.
Learn how to get the best Pound exchange rate before exchanging your money
The Pound is the official Pound currency. GBP/ZAR represents the value of Pound money in Rand money and it is called the 'exchange rate' or 'forex rate'. This exchange rate from Pound to Rand is today at 23.065.
As an example, suppose you are from Cape Town or Cape City South Africa and you travel to London Great Britain. There, you need to get 1000 Pounds ( £) at a London bank to pay your hotel. In this case you would pay 23.065 * 1000 = 23,064.969 Rands (R). But, in practice, you will pay more (or perhaps much more) to get the same amount of your foreign currency due to the margin for the money conversion services costs like: commissions, credit card surcharges, ATM fees and other expenses. If, for example, you are using a credit card, this margin will typically be around 2 to 3 percent. We recommend that you choose the best place to make your money exchange because there can be a large difference between forex rates you will get.
In the example above for a 1000 Pounds amount, the result of the money conversion is 23,526.268 ZAR for a 2% margin or 23,756.918 ZAR for a 3% margin.
Some Internet based foreign currency exchange agencies add 10 percent or even more. So, if you make the same calculations above, there will be a difference of about 2,306.497 ZAR depending on which forex bank or agency you choose to exchange your money. So, that's why we advise you to seek the best place to get the best fx rates for your upcoming money transfer/exchange. The only way to know what is the best exchange rate is to know what the current rate is. You can easily accomplish this by using periodically our currency converter above to get an idea of what forex rate to expect.
Note: If you use our currency converter, you only need to choose the amount of margin in its drop-down list and have an estimate of how much you will pay to get the desired amount.
By the way: there are some notations for this currency pair like GBP-ZAR or GBPZAR among others. The currency symbol for Pound is (£) while the currency symbol for Rand is (R). Note also that the Great Britain country code is GBR or GB. The South Africa country code is ZAF or ZA
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