RON/ZAR: what to know
The RON/ZAR rate shows how much ZAR you get for 1 RON. Right now, 1 RON buys 3.5402 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.2825 RON.
In the short term RON is driven mainly by regional sentiment and euro moves, while ZAR responds to commodity prices and risk appetite.
The Romanian Leu (RON) is issued by National Bank of Romania. “Leu” means “lion”. 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 RON/ZAR rate has ranged between 3.5300 and 4.0617 — a change of -11.06% 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.