The ZAR to Naira Exchange Rate
The exchange rate between the South African Rand (ZAR) and the Nigerian Naira (NGN) is crucial for trade, investment, and travel. As of today, the exchange rate is 1 ZAR = 83.00 NGN (Wise).
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Historical Trends and Current Status
- 30-Day High: 85.00 NGN
- 30-Day Low: 80.50 NGN
- 90-Day Average: 82.00 NGN
Factors Influencing the Exchange Rate
Several factors influence the exchange rate between ZAR and NGN:
- Economic Indicators: GDP growth, inflation rates, and interest rates in both South Africa and Nigeria.
- Political Stability: Political events affecting investor confidence.
- Global Commodity Prices: As major exporters, fluctuations in commodity prices impact the Rand.
- Trade Balance: Trade volumes and terms between South Africa and Nigeria affect currency demand.
Impact on South Africans
Understanding the ZAR to NGN exchange rate is crucial for various aspects:
- Travel Costs: A weaker Rand means higher costs for travel to Nigeria.
- Import Costs: Imported goods from Nigeria become costlier.
- Investment: Currency fluctuations impact returns on Nigerian investments.
Conclusion
Staying informed about the ZAR to NGN exchange rate is essential for making informed financial decisions. Platforms like Wise provide real-time exchange rates and valuable insights to help navigate currency fluctuations effectively.
For more information and to track live exchange rates, visit the Wise Currency Converter for ZAR to NGN.
Also read: 1 ZAR to EUR: South African Rand to Euro Exchange Rate
