ETH/ZAR: what to know
The ETH/ZAR rate shows how much ZAR you get for 1 ETH. Right now, 1 ETH buys 40,475.65 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.0000247062 ETH.
In the short term ETH is driven mainly by network activity and crypto-market sentiment, while ZAR responds to commodity prices and risk appetite.
Ethereum popularised programmable “smart contracts”. The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered.
Over the past 12 months the ETH/ZAR rate has ranged between 25,719.11 and 80,646.97 — a change of -50.54% versus a year ago.
Because this pair involves a cryptocurrency, expect much higher volatility than typical fiat pairs. Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.