ZAR/AUD: what to know
The ZAR/AUD rate shows how much AUD you get for 1 ZAR. Right now, 1 ZAR buys 0.0869 AUD at the mid-market rate. In the other direction, 1 AUD is worth 11.5049 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while AUD responds to commodity prices and Chinese demand.
The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered. The Australian Dollar (AUD) is issued by Reserve Bank of Australia. Australia pioneered polymer banknotes in 1988 — more durable and harder to counterfeit.
Over the past 12 months the ZAR/AUD rate has ranged between 0.0832 and 0.0913 — a change of -0.46% 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.