The South African rand gained today as optimism for an outcome of Greek debt-swap talks caused a rally of stocks and commodities, while also helping currencies of emerging markets.
South African Rand ZAR
Detailed information and fundamental factors
Central Bank: South African Reserve Bank
Interest Rate: 5.50%
Public Debt to GDP Ratio, 2010: 33.4%
Trade Balance, 2010: $3.84 bln.
Inflation, 2010: 4.1%
Supporting Factors
Major commodity exporter
medium
High-yielding interest rates
medium
Factors of Weakness
Politically unstable country
weak
High-risk emerging country
medium
South African Rand News Archive
Waning Optimism on Forex Market Weakens Rand
January 24th, 2012 at 14:31
South African Rand
The South African rand fell today as talks among Greece and private bondholders no longer cause optimism among investors, but rather make them concerned. Worsening market sentiment has a negative impact on assets of emerging economies.
South African Central Bank Keeps Rates Steady, Rand Maintains Gains
January 20th, 2012 at 7:01
South African Rand , Carry Trade
The South African rand kept its gains today after the South African Reserve Bank left its main interest rate unchanged at yesterday’s monetary policy meeting to support recovery of the nation’s economy.
Rand Weakens as No Change to Monetary Policy Expected, Rebounds
January 19th, 2012 at 9:01
South African Rand
The South African rand was weaker today as analysts speculated that the nation’s central bank will keep interest rates unchanged at today’s monetary policy meeting. The rand rebounded currently.
Rand Goes Lower as Fitch Changes Outlook to Negative
January 13th, 2012 at 18:05
South African Rand
The South African rand was down today as Fitch Ratings changed outlook for South Africa’s sovereign credit rating to negative, reducing attractiveness of country’s assets to investors.
Rand Advances as Forex Traders Express Optimism
January 04th, 2012 at 2:27
South African Rand
The South African rand advanced yesterday on the positive mood among Forex traders, though the currency lost part of its gains later. The rand held steady today.
Rand Goes Higher on Spain’s Bill Auction & Germany’s Business Confidence
December 20th, 2011 at 13:28
South African Rand
The South African rand advanced today after Spain auctioned its three- and six-month bills with a good result and the German business confidence unexpectedly improved this month.
Rand Tumbles on Negative Fundamentals & Bad News from Europe
December 09th, 2011 at 4:00
South African Rand
The South African rand dropped yesterday and remained weak today on the signs of the nation’s economic weakness. The currency also felt the negative impact of the news from Europe, but the European problems allowed the rand to outperform the euro.
Another Day of Gains for Rand?
November 29th, 2011 at 15:11
South African Rand
The South African rand gained today as the positive mood prevailed on the Forex market, but later reversed its trend and currently almost erased its earlier gains.
Rand Gains on Record US Retail Sales & Hopes for EU
November 28th, 2011 at 13:05
South African Rand
The South African rand advanced today as the US retail sales demonstrated a record growth during Thanksgiving, while hopes emerged that the European Union would find a way to deal with its problems.