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US Dollar/South African Rand FX Spot Rate

USD/ZAR is the exchange rate between the US dollar and the South African rand. It is a highly liquid and volatile emerging-market currency often used as a proxy for global risk appetite and commodity sentiment. South Africa is a major exporter of gold, platinum, and other metals, so the rand tends to track commodity prices and emerging-market flows. It can also swing sharply on domestic political and power-supply concerns.

Price · split & dividend adjusted
News & notes moving USDZAR.FOREX
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USDZAR.FOREX▲2

SARB Raises Benchmark Rate 25 bps to 7.25% as Rand Weakens

The South African Reserve Bank raised its benchmark rate by 25 bps to 7.25%, its second hike this year, according to Commerzbank's Volkmar Baur. Earlier expectations for rate cuts faded as higher Oil prices changed the outlook. Despite the hike, the South African Rand weakened, largely on Dollar strength.
USDZAR ▲ZA-10Y ▲
USDZAR.FOREX · Monetary · Positive SARB hiked 25bp yet the rand weakened largely on broad dollar strength, favoring USD
ZA-10Y.GB · Monetary · Positive SARB raised its benchmark rate 25 bps to 7.25%, lifting South African yields
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Commerzbank·10dRead more →
South AfricaJapanUnited States
USDZAR.FOREX

South African Rand-Yen Forecast at 9.3–9.8 Yen This Week, Says Sanward Securities' Chen

Sanward Securities' Chen expects the South African rand-yen pair to face upside resistance due to yen strength this week, forecasting a range of 9.3 to 9.8 yen. The dollar-yen's sharp appreciation on coordinated Japan-US intervention triggered broad selling in yen crosses, pushing the rand-yen below its 200-day moving average. The South African Reserve Bank's decision to hold rates and escalating anti-immigrant protests are also negative factors. Meanwhile, the country is rapidly becoming Africa's largest digital hub with a surge in data centers, but this raises concerns over worsening resource shortages given the massive power and water requirements.
USDJPY ▼USDZAR
USDJPY.FOREX · Monetary · Negative Coordinated Japan-US intervention strengthens yen, weakening USD/JPY.
USDZAR.FOREX · Monetary · Neutral Yen strength and SARB rate hold weaken ZAR, but intervention impact on USD/ZAR is indirect.
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フィスコ·61dRead more →
USDZAR.FOREX▼

Commerzbank reviews South African Rand recovery scenarios after SARB surprise

Commerzbank's Volkmar Baur reviewed the South African Rand after its earlier appreciation against the US Dollar stalled with the Iran conflict. The analysis examines recovery scenarios following a surprise decision by the South African Reserve Bank. The Rand had been strengthening before geopolitical tensions interrupted the move. Baur's note outlines potential paths for the currency to resume its gains.
USDZAR ▼
USDZAR.FOREX · Monetary · Negative SARB surprise decision and geopolitical tensions affect ZAR recovery scenarios
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Commerzbank·62dRead more →
USDZAR.FOREX▲3

Societe Generale says rand weakness resumes after SARB surprise

Societe Generale analysts report that USD/ZAR has broken above a multi-month descending trend line and reclaimed its 200-day moving average, suggesting renewed upside momentum. The South African Reserve Bank surprised markets by holding rates at 7.0%.
USDZAR ▲
USDZAR.FOREX · Monetary · Positive SARB held rates at 7.0%, surprising markets and weakening the rand, while USD/ZAR broke above trend line and 200-DMA, signaling renewed USD strength.
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USDZAR.FOREX▲

SARB holds rate at 7%, surprising markets and weighing on rand

The South African Reserve Bank kept its policy rate unchanged at 7%, a decision that Commerzbank’s Volkmar Baur described as a negative surprise. The hold came despite June inflation rising and Brent crude moving above USD 100 per barrel, which had led some to expect a hike. The surprise decision weighed on the rand against the US dollar.
USDZAR ▲
USDZAR.FOREX · Monetary · Positive SARB unexpectedly held rates at 7%, surprising markets and weakening the rand against the USD
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Commerzbank·72dRead more →
USDZAR.FOREX▼

South African Rand-Yen Forecast Range 9.65–10.15 Yen, Buy and Sell Factors with Support and Resistance Levels Announced

Fisco announced on July 15 its forecast range for the South African rand against the yen at 9.65 yen to 10.15 yen. Buy factors cited include stabilization of domestic politics, inflows into high-interest currencies, persistently high resource prices, and a continued weak yen trend. Sell factors point to yen-buying intervention to correct excessive yen weakness.
USDJPY ▼USDZAR ▼
USDJPY.FOREX · Monetary · Negative Sell factor mentions yen-buying intervention to correct excessive yen weakness, which would strengthen JPY against USD.
USDZAR.FOREX · Monetary · Negative Buy factor includes inflows into high-interest currencies (ZAR) and persistently high resource prices, supporting ZAR; sell factor includes yen-buying intervention which could weaken ZAR indirectly.
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USDZAR.FOREX▼

South African Rand-Yen Forecast at 9.75–10.25 Yen This Week

Sanward Securities' Mr. Chen expressed the view that the South African rand-yen will remain firm this week on the outlook for policy rate hikes. The South African Reserve Bank cut its policy rate to 6.75 percent last November, then began raising it in May this year, with the rate now at 7.0 percent. On the other hand, he noted that the radicalization of anti-immigrant protests in Johannesburg is a negative factor, and if they escalate into riots, there is a possibility of a sharp drop in the rand. He forecasts this week's range at 9.75 to 10.25 yen.
USDZAR ▼
USDZAR.FOREX · Monetary · Negative SARB rate hikes support rand, but anti-immigrant protests are a negative factor
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USDZAR.FOREX▼

South Africa to tap rand sukuk bonds, ZAR gains

South Africa's National Treasury will tap existing rand-denominated sukuk bonds as part of its current fiscal year funding plans, according to Societe Generale strategists. The issuance size and timing remain unknown. The South African rand gained following the announcement.
USDZAR ▼
USDZAR.FOREX · Monetary · Negative South Africa's Treasury plans to tap rand sukuk bonds, boosting demand for ZAR and causing the rand to gain.
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Societe Generale·93dRead more →
USDZAR.FOREX▲

Precious metals slump tempers South African Rand carry outlook, says BNY

Weaker precious metals are undermining the terms of trade for South Africa and Peru, limiting upside for the South African Rand and Peruvian Sol even in a supportive carry backdrop, according to BNY's Geoff Yu.
GOLD ▼PALLADIUM ▼PLATINUM ▼SILVER ▼USDZAR ▲
GOLD · Demand · Negative Precious metals slump directly lowers gold prices.
PALLADIUM · Demand · Negative Precious metals slump directly lowers palladium prices.
PLATINUM · Demand · Negative Precious metals slump directly lowers platinum prices.
SILVER · Demand · Negative Precious metals slump directly lowers silver prices.
USDZAR.FOREX · Monetary · Positive Weaker precious metals undermine South Africa's terms of trade, limiting ZAR upside.
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