Home Economy South African Rand Tested by Dollar Strength as Dust Settles On Unrest

South African Rand Tested by Dollar Strength as Dust Settles On Unrest

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– ZAR finding its feet as dust settles after civil unrest
– But USD in driving seat, advancing & lifting USD/ZAR
– Resistance at 14.70/14.80 in crosshairs as SARB looms

  • GBP/ZAR reference rates at publication:
  • Spot: 20.07
  • Bank transfer rates (indicative guide): 19.30-19.44
  • Transfer specialist rates (indicative): 19.82-19.86
  • Get a specialist rate quote, here
  • Set up an exchange rate alert, here

The Rand has begun to find its feet with the dust settling on recent unrest in South Africa, although its resilience is being further tested by an advancing Dollar, which has lifted USD/ZAR back toward pivotal levels ahead of Thursday’s South African Reserve Bank (SARB) policy decision.

South Africa’s Rand ceded ground to the Dollar again on Wednesday though not to the same extent as many of the major currencies, which led the Rand to notch up gains over a majority of that grouping while also rising against a handful of emerging market currencies like the…

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