HKD/ZAR: what to know
The HKD/ZAR rate shows how much ZAR you get for 1 HKD. Right now, 1 HKD buys 2.0517 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.4874 HKD.
In the short term HKD is driven mainly by its peg to the US dollar, while ZAR responds to commodity prices and risk appetite.
The Hong Kong Dollar (HKD) is issued by Hong Kong Monetary Authority. Most banknotes are issued by three commercial banks, not a central bank. 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 HKD/ZAR rate has ranged between 2.0083 and 2.2472 — a change of -7.21% 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.