The currency pair is the US dollar - South African rand (USD / ZAR).
The US economy is the largest global economy in terms of GDP, while the US has the largest public debt. The dynamics of these indicators has a strong influence on the US dollar rate, and on the whole, the situation in the world economy. In addition, the US dollar is the main world reserve currency, and US government bonds are considered one of the most conservative and reliable instruments for investment.
South Africa is the most economically developed country in the African continent. It has significant reserves of minerals, including copper, coal (80% of manganese and iron ore). Gold mining is declining but previously the country took first place, but now its China, Australia, Russia and others, yet it in the top ten. The country has developed the production of cars and, according to this indicator, it holds the first place in Africa. About 200 thousand cars a year are exported to Europe.
The main export destinations from South Africa are China, the United States, Germany, as well as neighboring Botswana and Namibia. Import mostly comes from China, Germany, the United States, India and the United Kingdom.
The United States and South Africa are connected by mutually beneficial trade and investment cooperation. On these issues, the countries are connected either directly or through joint work with the SACU (Southern African Customs Union, South African Customs Union). In South Africa, about 600 US companies conduct their business, including through investments in the South African economy. South Africa also benefits from the American General System of Preferences - GSP, through which duty-free supplies to the US market about 5000 items.
All these economic indicators influence the volatility of the dollar-rand currency pair when trading on Forex.
The USD / ZAR currency pair is built on the principle of direct quotation. The base currency is USD - the dollar, and quoted - ZAR, South African rand. The growth of the currency pair means the strengthening of the US dollar against the South African rand, that is, for the purchase of one USD, more ZAR is required. A decrease in the rate indicates the strengthening of ZAR. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The American dollar - (currency sign - $, bank code: USD) - is the national currency in the United States, one of the main reserve currencies in the world. The right of monetary issue is governed by the Federal Reserve System, which performs the functions of the Central Bank.
South African Rand - (bank code: ZAR) is the official currency of the Republic of South Africa, it is also the currency of Namibia and Lesotho, which, together with South Africa, are parties to the Multilateral Currency Agreement. Also, the Swaziland-Lilangeni (SZL) currency is linked to the South African rand in a 1: 1 ratio, rand plays a significant role in the exchange rate of the national currency of Botswana-pula. The issuer of the rand is the South African Reserve Bank (South African Reserve Bank)
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