ZAR/JPY: what to know
The ZAR/JPY rate shows how much JPY you get for 1 ZAR. Right now, 1 ZAR buys 9.7872 JPY at the mid-market rate. In the other direction, 1 JPY is worth 0.1022 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while JPY responds to Bank of Japan policy and global risk appetite.
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 Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”.
Over the past 12 months the ZAR/JPY rate has ranged between 8.3765 and 10.0043 — a change of +16.17% 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.