ZAR/XPT: what to know
The ZAR/XPT rate shows how much XPT you get for 1 ZAR. Right now, 1 ZAR buys 0.0000345521 XPT at the mid-market rate. In the other direction, 1 XPT is worth 28,941.82 ZAR.
In the short term ZAR is driven mainly by commodity prices and risk appetite, while XPT responds to industrial (auto) demand and supply.
The South African Rand (ZAR) is issued by South African Reserve Bank. The rand is named after the Witwatersrand ridge, where gold was discovered. Platinum is rarer than gold and vital for catalytic converters.
Because this pair involves a precious metal, the rate reflects global bullion prices per troy ounce. 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.