USD/ZAR — News Archive

Rand Drops as S&P Lowers South Africa’s Credit Rating

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.

Rand Reaches This Year’s Record, Being Top Performer

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.

Rand Drops as Economic Growth Projection Lowered

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.

Rand Gains While Other Risky Currencies Decline

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.

Rand Gains, Remains Vulnerable

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.

Rand Gains as Interest Rate Cut Unlikely

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.

Rand Falls as Central Bank Concerned by Volatility

The South African rand weakened today on signs that the central bank may intervene to curb volatility of the exchange rate.

Labor Unrest in South Africa Hurts Rand

The South African rand weakened today, extending its longest decline in a year and touching the lowest level in four years, on concerns that worker strikes and falling commodity prices will hurt the nation’s economy.

Rand Drops as South African Trade Deficit Swells

The South African rand declined today as the nation’s trade balance deficit widened more than experts have predicted, driving investors away from South African assets.

Rand Rebounds on Speculations Losses Were Overdone

The South African rand rose today, erasing previous decline and touching the highest level in more than a week, on speculations that the recent losses of the currency, which was the worst performer among the currencies of emerging economies, were excessive.

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