ZAR/HKD: what to know
The ZAR/HKD rate shows how much HKD you get for 1 ZAR. Right now, 1 ZAR buys 0.4874 HKD at the mid-market rate. In the other direction, 1 HKD is worth 2.0517 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while HKD responds to its peg to the US dollar.
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 Hong Kong Dollar (HKD) is issued by Hong Kong Monetary Authority. Most banknotes are issued by three commercial banks, not a central bank.
Over the past 12 months the ZAR/HKD rate has ranged between 0.4450 and 0.4979 — a change of +7.77% 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.