As of December 16, 2024, the exchange rate between the South African Rand (ZAR) and the Pakistani Rupee (PKR) stands at approximately 1 ZAR = 15.57 PKR.
Recent Trends and Historical Context
Over the past month, the ZAR/PKR exchange rate has exhibited fluctuations, with a 30-day high of 15.6983 and a low of 15.2704, averaging around 15.4072.
In the last six months, the exchange rate reached a peak of 16.2551 on September 30, 2024, and a low of 15.0103 on July 3, 2024, averaging 15.5563 during this period.
Factors Influencing the Exchange Rate
Several factors contribute to the fluctuations in the ZAR/PKR exchange rate:
- Economic Indicators: South Africa’s GDP growth, inflation rates, and employment figures can impact the strength of the Rand.
- Political Stability: Political events in both countries can lead to increased volatility in exchange rates.
- Global Commodity Prices: As a major exporter of minerals, South Africa’s economy is sensitive to changes in global commodity prices, affecting the Rand’s value.
- Monetary Policies: Interest rate decisions by the South African Reserve Bank and the State Bank of Pakistan influence investor sentiment and capital flows, impacting exchange rates.
Practical Implications
For individuals and businesses engaged in trade or travel between South Africa and Pakistan, staying informed about exchange rate trends is crucial. Even minor fluctuations can significantly affect transaction costs, pricing strategies, and budgeting.
Exchange Rate Table
| Date | Exchange Rate (1 ZAR to PKR) |
|---|---|
| Dec 16, 2024 | 15.57 |
| Dec 15, 2024 | 15.54 |
| Dec 14, 2024 | 15.56 |
| Dec 13, 2024 | 15.55 |
| Dec 12, 2024 | 15.64 |
Note: Exchange rates are subject to change and may vary slightly depending on the source.
Frequently Asked Questions (FAQs)
Q1: What is the current exchange rate between the South African Rand and the Pakistani Rupee?
As of December 16, 2024, 1 South African Rand equals approximately 15.57 Pakistani Rupees.
Q2: How often do exchange rates between ZAR and PKR fluctuate?
Exchange rates can fluctuate multiple times within a single day due to market dynamics, economic indicators, and geopolitical events.
Q3: Where can I find the most accurate and up-to-date exchange rates?
Reliable sources for real-time exchange rates include financial news websites, official central bank publications, and reputable currency converter platforms.
Q4: How do global commodity prices affect the South African Rand?
South Africa’s economy is heavily reliant on mineral exports. Changes in global commodity prices can influence the country’s trade balance and economic health, thereby affecting the value of the Rand.
