ZAR/SGD: what to know
The ZAR/SGD rate shows how much SGD you get for 1 ZAR. Right now, 1 ZAR buys 0.0792 SGD at the mid-market rate. In the other direction, 1 SGD is worth 12.6245 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while SGD responds to the MAS-managed currency basket.
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 Singapore Dollar (SGD) is issued by Monetary Authority of Singapore. The Singapore and Brunei dollars are interchangeable at par.
Over the past 12 months the ZAR/SGD rate has ranged between 0.0734 and 0.0806 — a change of +5.85% 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.