Last week was characterised by the ZAR weakening against the Pound. The Rand hit a high of 17.82, from a low of 17.07. The decrease in value of the Pound, the British Tourism industry saw an increase of visitors to the UK. This gave the Pound strength once again.

The overall mood in the markets at the start of the week appeared to be positive as the influx of money into developing-market assets served to pull the Rand even higher. Strong jobs data in the US further lowered hopes for any interest rate hikes in the world’s biggest economies, fuelling a rush in demand for emerging market currencies.

The 14.00 USD-ZAR mark has finally been broken. The Rand reached an eight-month high on Friday on the back of some weak US GDP numbers and the fourth consecutive monthly trade surplus in the Republic.

The Rand reached its strongest level against the Pound in 12 months on Friday afternoon, closing at 18.737. The Rand also exhibited signs of strength against the US Dollar, ending the week at 14.293 after beginning the week at 14.337.

The Immigration Act of 2016 was updated on 12 July. It now includes an immigration skills charge that is designed to discourage UK companies from hiring foreign citizens. The addition comes in the wake of several immigration-curtailing measures recently implemented in the UK.

Last week started off with major USD power after exceptional labour data reports from the country. Overall, the ZAR has been on a strengthening streak, with the market as a whole progressing to a more “risk on” approach.

After the recent Brexit vote the ZAR has managed to regain some strength, finally seeing a positive comeback for the ZAR – GBP after an extended low.

The South African Rand neared one-year highs against Pound on the back of SABMiller deal approval and Brexit uncertainty.

The Rand started off strong last week as markets prepared for the UK to vote to remain in Thursday’s referendum on EU membership.

The Rand declined by approximately 1.5%, reaching its lowest level in more than a week. This drop occurred on Tuesday, after the Reserve bank announced that the current account deficit has widened from 4.6% in the last quarter of 2015 to 5% in the first quarter of 2016.

The Rand began last week on weak note, opening on Monday morning at 21.75 to the Pound. This weakness was short lived as the Rand strengthened, reaching a weekly high of 21.35 on Wednesday.

Ratings agency S&P has kept South Africa’s long-term credit rating at “BBB-” with a negative outlook. As a result, we have seen some significant improvement in the rates, with the USD/ZAR trading at around 15.10 this morning, compared to Thursday’s close of 15.66.

The South African Rand ended a turbulent week on a positive note, settling around USD/ZAR 15.58, after coming close to breaching the R16 barrier on Thursday.

There was a general progression of weakness in the ZAR against all the major currencies last week. The Rand’s losses occurred despite negative-to-mixed data from the US and the UK.

Following a public holiday on Monday, the Rand firmed slightly against the Dollar early last week Tuesday. This was short-lived and by the end of the day the Rand dropped more than 1% against the stronger currency. The chief drivers of this decline were global risk aversion and increased import demand in the market.

The USD continued to weaken as the Fed dampened expectations of a rate increase. This weakening has seen an appreciation of emerging market currencies, including the ZAR.

The Rand began last week on a strong note, strengthening from 20.7937 against the Pound on Monday morning to a weekly low of 20.3648 on Wednesday evening. These gains were short lived as the Pound regained earlier losses to the Rand as the currency pair closed out the week at 20.7478.

The Rand has managed maintain most of the gains it made against the major currencies in the first week of April. However, consistent negative sentiment has been keeping the local currency from breaking below the 14.50 level.

Amidst all the recent currency fluctuations and market doomsday predictions our team at 1st Contact Forex have put together an infographic showing you exactly how much bang, or more accurately, beer, you can get for your buck.

Last week the Rand started off well, only to weaken midweek before making a comeback by the close of Friday trading. These moves were largely as a result of fluctuations in risk sentiment and emerging markets.

After opening on Monday morning at 21.73 to the Pound, the Rand recovered to 21.20 by Wednesday on the back of the GBP’s steepest decline in more than six years.

Last week was a somewhat positive, albeit volatile, week for the Rand. Despite an initial weakening against the major currencies, the Rand had strengthened by Friday.

Thanks to a law created in 1949, South Africans who have acquired citizenship in another country, without the prior written consent of the Minister of Home Affairs, run the risk of losing their South African citizenship.

The Rand continues to remain volatile in the face of South Africa’s political crisis, despite making some gains this past week.

The SA positive trade data release last week indicated that SA is not quite as reliant on external funding as many believed.