ZAR/DKK: what to know
The ZAR/DKK rate shows how much DKK you get for 1 ZAR. Right now, 1 ZAR buys 0.4020 DKK at the mid-market rate. In the other direction, 1 DKK is worth 2.4877 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while DKK responds to its fixed peg to the euro.
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 Danish Krone (DKK) is issued by Danmarks Nationalbank. The Danish krone is tightly pegged to the euro within a narrow band.
Over the past 12 months the ZAR/DKK rate has ranged between 0.3627 and 0.4039 — a change of +8.48% 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.