KRW/ZAR: what to know
The KRW/ZAR rate shows how much ZAR you get for 1 KRW. Right now, 1 KRW buys 0.0121 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 82.9856 KRW.
In the short term KRW is driven mainly by tech exports and global risk appetite, while ZAR responds to commodity prices and risk appetite.
The South Korean Won (KRW) is issued by Bank of Korea. “Won” shares a root with yen and yuan, meaning “round”. 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 KRW/ZAR rate has ranged between 0.0105 and 0.0126 — a change of -3.77% 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.