TRY/ZAR: what to know
The TRY/ZAR rate shows how much ZAR you get for 1 TRY. Right now, 1 TRY buys 0.3353 ZAR at the mid-market rate. In the other direction, 1 ZAR is worth 2.9821 TRY.
In the short term TRY is driven mainly by high inflation and central-bank policy, while ZAR responds to commodity prices and risk appetite.
The Turkish Lira (TRY) is issued by Central Bank of Türkiye. In 2005 Türkiye removed six zeros: 1,000,000 old lira became 1 new lira. 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 TRY/ZAR rate has ranged between 0.3295 and 0.4210 — a change of -20.56% 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.