Exchange Rate in South Africa

South Africa Exchange Rate | Economic News & Forecasts

South Africa - Exchange Rate

Rand rebounds in May

The South African rand (ZAR) recovered some lost ground against the U.S. dollar over the past month, chiefly thanks to recovering investor sentiment as the government gears up to reopen the economy. That said, the rand remains very low by historical standards, after a sell-off of emerging markets assets and credit rating downgrades by Moody’s and Fitch Ratings sent South Africa’s currency tumbling to an all-time low at the end of April. The South African rand ended 22 May at ZAR 17.71 per USD, marking a 7.0% appreciation over the same day in April. However, the currency was down 18.8% year-on-year and 21.0% year-to-date.

The rand gained ground in the second half of May as the easing of lockdown regulations globally boosted investor demand for emerging-market currencies. Similarly, expectations that the South African economy will largely reopen from 1 June further pushed up demand for ZAR, while a larger-than-expected rate cut by the SARB on 21 May also pushed the rand higher.

The rand is currently set to remain largely stable through year-end, although the outlook is highly uncertain. Further ahead, the rand should rebound more decisively, after the economy emerges from the Covid-19 related downturn.

FocusEconomics Consensus Forecast panelists see the ZAR ending 2020 at 17.28 per USD and 2021 at 16.08 per USD.

South Africa - Exchange Rate Data

2014   2015   2016   2017   2018  
Exchange Rate (vs USD)11.57  15.50  13.68  12.38  14.39  

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South Africa Exchange Rate Chart

South Africa Exchange Rate
Note: South African Rand (ZAR) per U.S. dollar.
Source: Thomson Reuters.

South Africa Facts

Value Change Date
Bond Yield8.260.29 %Dec 31
Exchange Rate13.98-0.21 %Dec 31
Stock Market0.1-0.44 %Jan 06

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