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country currency pairs usdzar

US Dollar vs South African Rand

US Dollar vs South African Rand (USDZAR)

The USDZAR currency pair represents the exchange rate between the United States Dollar USD and the South African Rand ZAR. It’s a critical indicator in the forex market

-.-- -.--%
Annual change
-.--%
All time High / Low
11.2546 / 19.91436
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
18.23901
High
18.33853

USDZAR Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -318.89
  • Swap Short: 15.89
  • Margin Group: FX Majors
  • Margin Currency: USD
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of USDZAR

The history of the USDZAR exchange rate reflects the economic and political developments of both the United States and South Africa. The South African Rand, introduced in 1961, has experienced significant fluctuations against the US Dollar over the years. During the apartheid era, the Rand was subject to international sanctions and volatility. In the post-apartheid era, the Rand initially strengthened, but it has remained susceptible to global economic factors and domestic challenges. Factors such as changes in commodity prices, interest rates, political stability, and economic reforms have played a role in shaping the USDZAR exchange rate’s historical trajectory. It has often been a barometer for sentiment regarding South Africa’s economic prospects and global market dynamics.

currency pair usdzar

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Frequently Asked Questions

The USDZAR currency pair represents the exchange rate between the United States Dollar USD and the South African Rand ZAR. It reflects how many South African Rand you need to purchase one US Dollar. Trading this pair involves speculating on the relative strength of these two currencies in the foreign exchange market. Factors such as economic data, political developments, and global market sentiment can influence the USDZAR exchange rate, making it a popular choice for forex traders looking for opportunities in the emerging markets.

To trade the USDZAR pair, you need to open an account and deposit funds, you should conduct market analysis, considering both technical and fundamental factors. Technical analysis involves studying price charts, indicators, and patterns, while fundamental analysis focuses on economic data, interest rates, and geopolitical events. With a well-defined trading strategy in place, including clear entry and exit points and risk management rules, you can execute buy or sell orders based on your analysis. Monitoring the market closely and using stop-loss and take-profit orders to manage risk is crucial. Stay informed about news and events that can influence the USDZAR pair, such as economic releases and geopolitical developments.

The trading hours for USDZAR can be found here

Traders often employ various strategies when trading the USDZAR pair. One common approach is trend following, where traders analyze historical price movements and aim to capitalize on established trends. Breakout strategies involve identifying key support and resistance levels and entering trades when the price breaks through these levels. Another approach is range trading, which involves trading within a defined price range, buying near support levels and selling near resistance levels. Fundamental analysis can also play a significant role, as economic events and news in both the United States and South Africa can influence the exchange rate. Ultimately, the choice of strategy depends on a trader’s risk tolerance, trading style, and market analysis.

When trading the USDZAR pair, several critical factors should be considered. Firstly, monitor economic data and events in both the United States and South Africa, such as interest rate decisions, GDP reports, and political developments, as these can significantly impact the exchange rate. Additionally, be aware of commodity prices, as South Africa is a major producer of commodities like gold and platinum, which can influence the Rand’s value. Keep an eye on global economic trends, risk sentiment, and geopolitical events, as these can affect currency markets. Utilize technical analysis to identify trends, support, and resistance levels, and consider risk management techniques to protect your capital in this potentially volatile market.