South Africa Exchange Rate July 2016

South Africa

South African rand depreciates after Brexit vote

In the aftermath of the Brexit vote, South Africa’s rand (ZAR) lost ground against the U.S. dollar. On 27 June, the currency traded at 15.52 per USD. The figure was 4.14% lower compared to the previous day and 26.9% weaker on an annual basis.

The rand’s value took the deepest plunge among emerging market economies as investors lost appetite for risk assets. Moreover, the country’s bleak growth outlooks, low commodity prices and fears over a possible credit downgrade are putting further pressure on the currency.

FocusEconomics Consensus Forecast panelists expect the rand to end 2016 at 16.17 ZAR per USD. In 2017, the panel sees the currency trading at 16.50 ZAR per USD.

Sample Report

Looking for forecasts related to Exchange Rate in South Africa? Download a sample report now.


South Africa Exchange Rate Chart

SouthAfrica Exchange Rate July 2016 0

Note: Exchange rate, ZAR per USD (eop).
Source: Thomson Reuters

South Africa Economic News

More news

Search form