Historic Chinese Yuan Renminbi South African rand

Chinese Yuan Renminbi south african rand history for October 2023. The highest quote for this month is 2.7277 (06/10/2023) and the lowest 2.679 (05/10/2023). The difference between high and low is 1.79.

CNY ZAR average rate for October 2023 is 2.61432, the change between 01/10/2023 and 31/10/2023 is +0.35 %.

01 October 20231 CNY = 2.585 ZAR
02 October 20231 CNY = 2.635 ZAR
03 October 20231 CNY = 2.676 ZAR
04 October 20231 CNY = 2.682 ZAR
05 October 20231 CNY = 2.683 ZAR
06 October 20231 CNY = 2.710 ZAR
07 October 20231 CNY = 2.643 ZAR
08 October 20231 CNY = 2.642 ZAR
09 October 20231 CNY = 2.651 ZAR
10 October 20231 CNY = 2.625 ZAR
11 October 20231 CNY = 2.605 ZAR
12 October 20231 CNY = 2.577 ZAR
13 October 20231 CNY = 2.604 ZAR
16 October 20231 CNY = 2.647 ZAR
17 October 20231 CNY = 2.569 ZAR
18 October 20231 CNY = 2.570 ZAR
19 October 20231 CNY = 2.594 ZAR
20 October 20231 CNY = 2.599 ZAR
21 October 20231 CNY = 2.581 ZAR
22 October 20231 CNY = 2.595 ZAR
23 October 20231 CNY = 2.593 ZAR
24 October 20231 CNY = 2.591 ZAR
25 October 20231 CNY = 2.601 ZAR
26 October 20231 CNY = 2.615 ZAR
27 October 20231 CNY = 2.588 ZAR
28 October 20231 CNY = 2.578 ZAR
29 October 20231 CNY = 2.578 ZAR
30 October 20231 CNY = 2.621 ZAR
31 October 20231 CNY = 2.576 ZAR

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket

The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.

18/06/2009: Resumption of Renminbi Appreciation

China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

20/07/2005: Introduction of Managed Float

China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

31/12/1993: Renminbi Pegged to US Dollar

China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.

31/12/1992: Introduction of Dual Currency System

China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

14/08/1971: End of the Bretton Woods System

The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

14/12/1948: Formation of the People's Bank of China

The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.