After spending the last two weeks in the red, the rand had a stellar trading week, gaining ground against 17 of the top 19 currency pairs.
This week, due to the recent central bank activity, the ZAR ended in the red again against all major developed-market rivals.
After a few weeks of bullish sentiments, the South African Rand has lost its forward momentum. The recent US inflation data affected the ZAR.
The South African Rand ended last week in the green. Unemployment rates for Q1 of 2022 were also released and sit at 34.5%.
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The South African rand had a mixed week. It benefitted from positive outlook ratings by the S&P but the USD/ZAR pair lost 1.67% of its value.
The SARB announced that they will be raising the interest rates to 4.75%, which resulted in the rand strengthening across the board.
The emerging-market rand encountered some recent headwinds, amid heightened market volatility and continued US Dollar strength.
The rand took another hit last week, weakening against 16 of the top 19 currency pairs.
The rand experienced a tremendous pullback during the trading rounds of last week.
We have excluded the Russian Ruble from the analysis in our rand report due to the extreme volatility associated with the currency.
The Russian Ruble has been excluded from the analysis in our rand report due to the extreme volatility associated with the currency.
We have excluded the Russian Ruble from the analysis in our rand report due to the extreme volatility associated with the currency.
We have excluded the Russian Ruble from the analysis in our rand report due to the extreme volatility associated with the currency.
We have excluded the Russian Ruble from the analysis in our rand report due to the extreme volatility associated with the currency.
The weakening of major currencies due to higher commodities prices resulted in the strengthening of the rand this week.
The rand remained well supported in the markets last week, despite the rising potential for European warfare.
The rand weakened against 12 of the top 20 currencies. This week it will take cues from global market concerns regarding Russia and Ukraine.
This week, the words on the lips of everyone is the stellar performance of the rand in the current state of global geopolitics.
This week, the rand was on the back foot again as hawkish monetary policy returns to major markets and loadshedding is reintroduced.
The recent economic data coming out of South Africa signalled continued signs of positive economic activity, with November’s retail sales growth reported at 3.3% (year-on-year).
Last week saw the rand strengthen by 1.5% against the greenback and by 0.7% against the Pound.
This past week saw a strengthening of the rand against almost all major currencies.
The rand has had three days of weakness against the greenback.
The outbreak of the Omicron variant will be felt across all sectors in South Africa but, most importantly, it will affect interest rates, economic grants and the fuel price.