ZAR/PHP: what to know
The ZAR/PHP rate shows how much PHP you get for 1 ZAR. Right now, 1 ZAR buys 3.8917 PHP at the mid-market rate. In the other direction, 1 PHP is worth 0.2570 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while PHP responds to overseas remittances and trade flows.
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 Philippine Peso (PHP) is issued by Bangko Sentral ng Pilipinas. The Philippines is the only Asian country with a currency called the “peso” — a legacy of Spanish rule.
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.