About this pair
ISK/ZAR: what to know
The ISK/ZAR rate shows how much ZAR you get for 1 ISK. Right now, 1 ISK buys 0.1334 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 7.4974 ISK.
In the short term ISK is driven mainly by tourism, fishing and commodity prices, while ZAR responds to commodity prices and risk appetite.
The Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate. The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered.
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.