SGD/ZAR: what to know
The SGD/ZAR rate shows how much ZAR you get for 1 SGD. Right now, 1 SGD buys 12.6245 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 0.0792 SGD.
In the short term SGD is driven mainly by the MAS-managed currency basket, while ZAR responds to commodity prices and risk appetite.
The Singapore Dollar (SGD) is issued by Monetary Authority of Singapore. The Singapore and Brunei dollars are interchangeable at par. 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 SGD/ZAR rate has ranged between 12.4002 and 13.6191 — a change of -5.53% 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.