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South Africa's economy is facing significant challenges, including an energy crisis, low economic growth, and a weakening currency. Despite raising interest ...
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Jun 21, 2022 · June 21 (Reuters) - The South African rand strengthened against a broadly weaker dollar on Tuesday, although worries lingered over aggressive interest hikes from global central banks. At 1603 GMT ...
Mar 8, 2024 · JOHANNESBURG, March 8 (Reuters) - South Africa's rand was trading at its strongest level in over a month on Friday, after a week of gains supported by surging gold prices. At 1505 GMT, the rand ...
- Key South African Rand Drivers
- Rand Remains Under Pressure from Deficits
- South African Rand Forecast: Will The Rand Remain Under Pressure Or Rebound?
- The Bottom Line
The South African rand is the official currency of the Southern African Common Monetary Area, issued by the South African Reserve Bank (SARB). The rand is used in South Africa and in Namibia, Lesotho and Eswatini alongside their local currencies, which are pegged to the rand. The rand was introduced in 1961, ahead of South Africa becoming a republi...
The rand started 2022 at 15.40 against the US dollar, and strengthened to 14.61 at the start of March. But the gains were short-lived, and the rand began to trend lower, reaching 15.81 on 1 April. It climbed above 16.00 in May. The USD/ZAR pair passed the 17.00 mark in July and reached 18.40 on 24 October, its highest level since April 2020. The pa...
USD/ZAR forecast
In their latest South African rand forecast, CIBC’s analysts were cautious, expecting the currency to move back to 18 against the US dollar by the end of 2022, noting: “The presumption of significant additional tightening continues to weigh on growth assumptions and drag on broad investor sentiment. A prolonged period of above average inflation and slow growth, additionally the current account is expected to slip back into deficit territory into 2023, underlines why speculative ZAR holdings h...
EUR/ZAR forecast
At the time of writing (8 November), analysts saw the potential for the rand to strengthen against the euro over the long term, following potential short-term weakness. MUFG’s South African rand forecast for 2023 showed the EUR/ZAR pair rising to 18.12 in the first quarter, from 17.67 at the end of 2022, but then retreating to 17.75 by the third quarter. The EUR/ZAR forecast from Denmark’s Danske Bankindicated that the pair could decline from the current spot rate around 17.77 to 16.50 in one...
GBP/ZAR forecast
Similarly, Danske’s GBP/ZAR forecast estimated that the rand could gradually strengthen over the next year, with the pair falling from 20.45 at the time of writing (8 November) to 18.74 in one month, 18.34 in three months, 18.56 in six months and 18.38 in 12 months. But for the longer term, the British pound to South African rand forecast for 2025 from algorithm-based forecasting service Wallet Investorshowed the pair rising to 20.714, from 20.231 at the end of 2023 and 19.976 at the end of 2...
Are you looking for a South African rand forecast to inform your foreign exchange trading strategy? It’s important to remember that the volatility of currency markets makes it difficult for analysts and algorithm-based forecasters to come up with accurate long-term predictions. We recommend that you look at the latest market trends, news, technical...
South African Rand - data, forecasts, historical chart - was last updated on October 15 of 2024. The USDZAR increased 0.0434 or 0.25% to 17.5969 on Tuesday October 15 from 17.5535 in the previous trading session. The South African Rand is expected to trade at 17.65 by the end of this quarter, according to Trading Economics global macro models ...
Apr 4, 2022 · JOHANNESBURG, April 4 (Reuters) - South Africa's rand gained on Monday, having initially struggled for momentum against a stronger dollar, as the price of gold, of which the country is an exporter ...
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Sep 27, 2024 · 0.05%. Chinese Yuan. ¥7.0113. -0.0004. -0.01%. USDZAR | A complete South African Rand currency overview by MarketWatch. View the currency market news and exchange rates to see currency strength.
