ZAR/TRY: what to know
The ZAR/TRY rate shows how much TRY you get for 1 ZAR. Right now, 1 ZAR buys 2.9935 TRY at the mid-market rate. In the other direction, 1 TRY is worth 0.3341 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while TRY responds to high inflation and central-bank policy.
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 Turkish Lira (TRY) is issued by Central Bank of Türkiye. In 2005 Türkiye removed six zeros: 1,000,000 old lira became 1 new lira.
Over the past 12 months the ZAR/TRY rate has ranged between 2.3750 and 3.0347 — a change of +25.88% 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.