ZAR/SEK: what to know
The ZAR/SEK rate shows how much SEK you get for 1 ZAR. Right now, 1 ZAR buys 0.6024 SEK at the mid-market rate. In the other direction, 1 SEK is worth 1.6599 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while SEK responds to European growth 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 Swedish Krona (SEK) is issued by Sveriges Riksbank. “Krona” means “crown”.
Over the past 12 months the ZAR/SEK rate has ranged between 0.5327 and 0.6002 — a change of +11.67% 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.