The rand had a terrible trading week after Eskom plunged the country into darkness with stage 6 loadshedding.
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 Rand is a very durable currency, but even ZAR hasn’t been able to survive this onslaught of recent setbacks…
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.
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 rand remained well supported in the markets last week, despite the rising potential for European warfare.
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.
The rand strengthened this past week after experiencing significant headwinds the week before.
The rand lost hold of its previous gains in the forex market last week, with no notable data catalyst poised to give the markets much direction.
The rand has reclaimed its position as the best performing emerging market currency this year, strengthening across the board against the top 10 currencies.
The Rand is on a roll this week, gaining significant ground on the US Dollar. Here’s what is driving the encouraging exchange rate trend.
The South African Rand began on the back foot ahead of the budget speech this week. Here’s how the ZAR fluctuated during Tito Mboweni’s 2021 budget speech.
Just look at this exchange rate: The plucky South African Rand is now trading at pre-pandemic levels against the US Dollar – and the best is yet to come.
After reaching an all-time low last month, the dollar to rand exchange rate now looks better for South Africa. Here are the factors behind the recovery.
The rand is trapped in it’s own ‘horror movie within a horror movie’. ZAR is in freefall against the dollar, as our exchange rate sets another all-time low.