The rand has continued its multi-week winning streak, gaining on the back of global developments and inflation speculation. The rand appreciated against the dollar, euro and pound, as US unemployment data brought additional volatility to the markets.Image credit: Sable
The rand also appears to be benefitting from a rising trade surplus, as exports have continued to outpace imports over the past 12 months. Partly attributable to rising gold prices, South Africa’s current account has seen a considerable boost, thus bolstering demand for the Rand. However, “the cure to a strong rand is a stronger rand”, as the rising trade surplus is likely to put more pressure on the ZAR in the coming months.SA: GDP Growth Rate (Q1) EA: ECB Interest Rate Decision
SA: Current Account (Q1)
Get our Daily Rand Report delivered straight to your inbox every weekday to keep on top of everything happening with the ZAR.
Check out the Sable International Currency Zone to get the latest live exchange rates and easily transfer your money into or out of South Africa.