ZAR/GBP: what to know
The ZAR/GBP rate shows how much GBP you get for 1 ZAR. Right now, 1 ZAR buys 0.0461 GBP at the mid-market rate. In the other direction, 1 GBP is worth 21.6880 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while GBP responds to Bank of England policy and the UK economy.
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 British Pound (GBP) is issued by Bank of England. The pound sterling has been in use for over 1,200 years.
Over the past 12 months the ZAR/GBP rate has ranged between 0.0422 and 0.0466 — a change of +7.74% 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.