About this pair
ZAR/ISK: what to know
The ZAR/ISK rate shows how much ISK you get for 1 ZAR. Right now, 1 ZAR buys 7.4974 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.1334 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while ISK responds to tourism, fishing and commodity prices.
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 Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate.
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.