ZAR/NOK: what to know
The ZAR/NOK rate shows how much NOK you get for 1 ZAR. Right now, 1 ZAR buys 0.5730 NOK at the mid-market rate. In the other direction, 1 NOK is worth 1.7451 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while NOK responds to oil and gas 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 Norwegian Krone (NOK) is issued by Norges Bank. “Krone” means “crown”.
Over the past 12 months the ZAR/NOK rate has ranged between 0.5534 and 0.6158 — a change of +0.93% 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.