Polish Zloty to South African Rand - Convert Compare Save
The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as exchange rates are the ratio between two currencies.
So it follows that if you are determining the best time to transact, in this case the PLN vs ZAR, you should pay attention to the forecasts and trends for both Polish Zloty and South African Rand:
Polish Zloty (PLN) outlook
No recent Polish Zloty market updates.
South African Rand (ZAR) outlook
2018 was a grim year for the rand: it lost 14 percent of its value against the US dollar and lost nearly 10 percent against the euro.
The rand started 2019 with a bang but began to falter in the latter stages of January after the South African Reserve Bank pointed to significant improvements in the inflation outlook and indicated that this meant it had less of an incentive to raise interest rates. The SARB predicted only one further increase in rates between now and the end of 2021, down from a predicted three increases in November.
At the time of writing (March-23), at an exchange rate of R14.5 per USD, the rand was bang in the centre of its September-January uptrend against the dollar, and similar could be said versus the euro (R16.4 per EUR).
This May’s general election might add some currency uncertainty given the divisions within South Africa's ruling ANC party but once the election dust has settled the rand will have benefitted, thinks a Standard Bank analyst, due to the “much-needed policy reforms” that the election will facilitate.
Why can't I just get the PLN/ZAR market rate I see online or in the media?
The PLN/ZAR mid-rate is the rate you will see quoted online or the news, nobody except the largest banks and businesses can get
exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the PLN / ZAR was traded (bought or sold) in the international markets.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer.
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