About this pair
ZAR/MYR: what to know
The ZAR/MYR rate shows how much MYR you get for 1 ZAR. Right now, 1 ZAR buys 0.2520 MYR at the mid-market rate. In the other direction, 1 MYR is worth 3.9681 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while MYR responds to commodity prices and regional demand.
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 Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars.
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.