USDZAR Live Chart, Exchange Rate & Analysis | Trade USDZAR

Interesting facts about the USDZAR (US Dollar to South African Rand)

The USD/ZAR is not a very popular currency pair due to its complicated analytics. The majority of the Republic of South Africa population works in the service sector, which accounts for about 67.4% of GDP (finance, insurance, hotels, restaurant business, trade). Then there is industry, which gives up to 30.3% today (mining, processing, chemical). The production of agricultural products brings only 2.4% of GDP (livestock, fruits, sugar, cereals). The main trading partners are China, the USA, the EU, and Japan. The first paper South African rands (1961) appeared in South Africa a hundred years after the appearance of the paper American dollar (1861). As the political landscape changed in the early 1990s, uncertainty caused the Rand price to slowly decline to a record low. The South African Reserve Bank (SARB), modeled after the Bank of England, acts as the monetary authority of South Africa and issues its currency. In addition to South Africa itself, the rand is used in the territory of the Single Currency Zone, which at the moment already includes South Africa, Namibia, Swaziland, and Lesotho.

The United States has a powerful and much more diversified economy than South Africa, which is highly developed only from the point of view of Africa, and on a global scale, it is quite average.

The most important factors affecting USD/ZAR are

• central bank rates of both countries;
• economic indicators;
• trade balances (especially South Africa’s, half of whose GDP is exports);
• oil prices;
• labor market (South Africa has serious problems with its high unemployment rate).

The best time to trade the USD to ZAR pair is from 03:00 to 11:00, the Asian trading session, and from 15:00 to 00:00 (GMT+3, indicated in LiteFinance trading platform), the American trading session.