JPY/ZAR: what to know
The JPY/ZAR rate shows how much ZAR you get for 1 JPY. Right now, 1 JPY buys 0.1049 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 9.5336 JPY.
In the short term JPY is driven mainly by Bank of Japan policy and global risk appetite, while ZAR responds to commodity prices and risk appetite.
The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”. 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 JPY/ZAR rate has ranged between 0.1000 and 0.1188 — a change of -10.76% 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.