SEK/ZAR: what to know
The SEK/ZAR rate shows how much ZAR you get for 1 SEK. Right now, 1 SEK buys 1.6599 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.6024 SEK.
In the short term SEK is driven mainly by European growth and euro moves, while ZAR responds to commodity prices and risk appetite.
The Swedish Krona (SEK) is issued by Sveriges Riksbank. “Krona” means “crown”. 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 SEK/ZAR rate has ranged between 1.6662 and 1.8771 — a change of -10.45% 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.