The South African rand erased yesterday’s losses today, jumping more than 1% against the US dollar.
South African Rand ZAR
Central Bank: South African Reserve Bank
Public Debt to GDP Ratio, 2015: 45.4%
Trade Balance, 2015: -$1.67 bln.
Inflation, 2015: 4.8%
Major commodity exporter
High-yielding interest rates
Factors of Weakness
Politically unstable country
High-risk emerging country
The South African rand is the currency of the Common Monetary Area between South Africa, Swaziland and Lesotho. The currency is also used in Namibia, even though the country left the Common Monetary Area. The rand was introduced in 1961.
South African Rand News Archive
The South African Rand dropped today amid speculations that Finance Minister Pravin Gordhan will leave his office.
The South African rand rallied more than 1% at the start of the current trading week after rating agencies maintained South Africa’s credit grade at the end of the last week.
The South African rand dropped against the US dollar today following the nation’s decision to keep its repurchase rate unchanged.
The South African rand plummeted today after Finance Minister Pravin Gordhan was officially summoned to court.
The South African rand was almost flat against the US dollar after the South African Reserve Bank kept its monetary policy intact but signaled that the monetary tightening cycle may come to an end soon.
The South African rand rose a bit today, joining other currencies of emerging markets in a small scale rally, but remained under pressure from political turmoil in South Africa.
The South African rand fell today as political turmoil in the country made the currency not particularly attractive to investors.
The South African rand dropped today after data showed an increase of the nation’s current account deficit.
The South African rand climbed more than 3% against the US dollar today as Standard & Poor’s kept the nation’s credit rating at an investment grade. The terrible employment data from the United States also helped the rand to gain on the greenback.