GBP/ZAR: what to know
The GBP/ZAR rate shows how much ZAR you get for 1 GBP. Right now, 1 GBP buys 21.7773 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.0459 GBP.
In the short term GBP is driven mainly by Bank of England policy and the UK economy, while ZAR responds to commodity prices and risk appetite.
The British Pound (GBP) is issued by Bank of England. The pound sterling has been in use for over 1,200 years. 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 GBP/ZAR rate has ranged between 21.4479 and 23.7234 — a change of -7.19% versus a year ago.
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.