USD/ZAR – Live and Historical Rates
The pairing of the USD with the ZAR (South African Rand) is one of a major currency and a non-major one. It is indeed quite obvious that the major is the USD. The resulting pair is not a commodity pair, nor is it a major one. The chart featured on this page depicts the amount of ZAR one needs to buy a USD.
The USD is the most important currency of the world economy. Used by no fewer than 7 countries other than the US, the greenback is also used for the trading of oil and gold. A total of 23 other countries have their currencies pegged to the USD. As far as trading volumes go, the USD is the top currency in the world. Given that at one point all currencies were indeed pegged to the US, it isn’t really surprising that it is also the most popular reserve currency. Its strength stemming from the monstrous size of the US economy, the USD is exposed to just about every bit of political and economic strife, real or imagined, world-over.
Introduced in 1961, accompanying the birth of the Republic of South Africa, the ZAR used to enjoy a stronger valuation than the USD. Indeed, it wasn’t till 1984 that the strength of the ZAR was sapped by political turmoil and apartheid-related sanctions. The currency hasn’t managed to regain the lost ground since. The ZAR is actually the official currency of the Common Monetary Area, which includes – besides South Africa – Lesotho and Swaziland too. Namibia is another country which uses the ZAR.
South Africa is one of the world’s top gold producers and gold is priced exclusively in USD. This setup creates a very strong link between the two currencies. Gold prices are therefore a major factor in the evolution of the USD/ZAR .
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BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.