The trading week has started with a sharp rise in risk aversion as the meltdown of the Chinese stock market continued. Currencies of emerging economies suffered as a result, including the South African rand that has touched the all-time low during today’s trading session.
USD/ZAR — News Archive
July 23rd, 2015 at 15:37
The South African rand dropped against the US dollar today even though the nation’s central bank increased its main interest rate, continuing with the hiking cycle.
July 20th, 2015 at 11:59
The South African rand was one of the weakest currencies on the Forex market today. The reason for such poor performance was the decline of prices for raw materials.
December 08th, 2014 at 15:42
The South African rand dropped today, reaching the lowest level since 2008 against the US dollar, as the nation’s current-account deficit narrowed less than was predicted by analysts.
June 13th, 2014 at 22:20
The South African rand dropped today as Standard & Poor’s lowered the nation’s sovereign credit rating due to slow economic growth and other problems that make South African assets less attractive to investors.
May 08th, 2014 at 14:21
The South African rand climbed today, rising to the highest level this year, on speculations that the current ruling political party will remain in power, while positive economic news from China increased attractiveness of riskier currencies in general. The rand is the best performer against currencies of emerging economies.
The South African rand dropped today as Finance Minister Pravin Gordhan lowered the economic growth outlook, making nation’s assets less attractive to investors. The general market sentiment was also adverse to the currency.
August 23rd, 2013 at 12:39
The South African rand was able to strengthen today even though the vast majority of commodity-related currencies experienced weakness due to concerns about possible stimulus tampering in the United States.
June 26th, 2013 at 12:51
The South African rand strengthened today as exporters took benefit of the low exchange rate and converted their earning to the local currency, increasing demand for the rand.
June 06th, 2013 at 20:56
The South African rand appreciated today as the central bank indicated that there is a limited room for an interest rate cut due to inflation risks.