ZAR/RON: what to know
The ZAR/RON rate shows how much RON you get for 1 ZAR. Right now, 1 ZAR buys 0.2802 RON at the mid-market rate. In the other direction, 1 RON is worth 3.5684 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while RON responds to regional sentiment and euro moves.
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 Romanian Leu (RON) is issued by National Bank of Romania. “Leu” means “lion”.
Over the past 12 months the ZAR/RON rate has ranged between 0.2462 and 0.2833 — a change of +12.43% 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.