NZD/ZAR: what to know
The NZD/ZAR rate shows how much ZAR you get for 1 NZD. Right now, 1 NZD buys 9.4020 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.1064 NZD.
In the short term NZD is driven mainly by soft-commodity prices and risk appetite, while ZAR responds to commodity prices and risk appetite.
The New Zealand Dollar (NZD) is issued by Reserve Bank of New Zealand. The New Zealand dollar is nicknamed the “Kiwi”, after the bird on the $1 coin. 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 NZD/ZAR rate has ranged between 9.2370 and 10.4016 — a change of -8.96% 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.