In this section, you will find important USDZAR news, actionable trading ideas, and a live USDZAR chart to help you understand how the South African Rand trades vs. the US Dollar.
USDZAR is the ticker symbol in fx markets that represents how many South African Rands you can buy with one US dollar. South African Rand is the legal tender of the Common Monetary Area which includes South Africa, Swaziland, Lesotho, and Namibia. The factors that affect USDZAR are the interest rates, the GDP growth, inflation, unemployment rates, balance of payments and other macroeconomic figures. The US Federal Reserve Bank and South African Central Bank are the two institutions that USDZAR traders follow in order to get an idea about the future moves of the pair.
Live USDZAR Chart
The USDZAR pair dropped slightly mostly because of the overall weakness of the US dollar. The dollar index, which measures the performance of the USD against a basket of currencies declined by more than 20 basis points.
The USD/ZAR pair declined slightly as hopes rose that South Africa will reopen its economy soon. The pair declined even as the US dollar index rose by more than 30 basis points. South Africa starts to reopen There are hopes in the financial market that South Africa is opening up...
The USD/ZAR pair declined slightly as the market shrugged-off the latest South African rate downgrade by S&P Global. As it dropped, the pair accelerated the losses started last week when it reached a decade high of 19.3445.