PHP/ZAR: what to know
The PHP/ZAR rate shows how much ZAR you get for 1 PHP. Right now, 1 PHP buys 0.2570 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 3.8917 PHP.
In the short term PHP is driven mainly by overseas remittances and trade flows, while ZAR responds to commodity prices and risk appetite.
The Philippine Peso (PHP) is issued by Bangko Sentral ng Pilipinas. The Philippines is the only Asian country with a currency called the “peso” — a legacy of Spanish rule. 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.