INR/ZAR: what to know
The INR/ZAR rate shows how much ZAR you get for 1 INR. Right now, 1 INR buys 0.1696 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 5.8967 INR.
In the short term INR is driven mainly by oil prices and capital flows, while ZAR responds to commodity prices and risk appetite.
The Indian Rupee (INR) is issued by Reserve Bank of India. The ₹ symbol was adopted in 2010. 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 INR/ZAR rate has ranged between 0.1671 and 0.1979 — a change of -14.18% 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.