About this pair
MYR/ZAR: what to know
The MYR/ZAR rate shows how much ZAR you get for 1 MYR. Right now, 1 MYR buys 3.9561 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.2528 MYR.
In the short term MYR is driven mainly by commodity prices and regional demand, while ZAR responds to commodity prices and risk appetite.
The Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars. 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.