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Exchange rate fluctuations are a source of anxiety for multinational firms, exporters, importers, and investors. Imports benefit from a stronger native currency, while exports suffer, and the value of assets assessed in the national currency falls. Exports benefit from a weaker native currency, while imports suffer, and the value of abroad assets assessed in the domestic currency rises. A significant depreciation of the home currency will likely result in high inflation, increased international capital outflows, decreased foreign investment, and economic instability.


The exchange rate of the South African rand/US dollar (ZAR/USD) (units of the rand per US dollar) has been more unstable than that of many other currencies. The South African rand was affected by the Asian currency crisis, depreciating as much as 41.5 percent from 4.53 rand per US dollar in 1997. In 1998, M6 increased to 6.41. M8. The South African rand declined by as high as 39.15 percent over the Us dollar during the current global financial crisis, from 7.33 in 2008. In 2009, M7 increased to 10.20. M1, however, recovered the majority of its losses over the next three years. On the other hand, the South African rand had lost 24.3 percent of its value versus the US dollar this year, ending at 14.3668 on December 4, 2015.

XE.COM USD TO ZAR USD to ZAR currency information:

USD stands for United States Dollar

According to our currency rankings, the USD to EUR rate is the most popular US Dollar conversion rate. USD is the currency code for US Dollars. The sign for money is $.

South African Rand (ZAR)

According to our currency rankings, the most demanded South African Rand exchange rate is the ZAR to USD rate. Zar is the currency for the South African Rand. R is the money sign.

Economy Overview

South Africa’s Economy Overview

South Africa’s population is estimated to be at 54 million people. The country has an open economy, with a floating exchange rate, independent monetary policy, and free capital mobility among policy options. According to Brand South Africa (2017), South Africa joined the BRICs (Brazil, Russia, India, and China) in 2011 as a potentially high-growth group. China, the USA, the European Union, and Japan are South Africa’s main commercial partners outside of Africa.

According to the Gross Domestic Product (GDP), the South African economy will rise by 1.2 percent in 2017. 

The United States of America’s Economy Overview

The United States of America’s economy accounts for 20.15 percent of global output. As a result, the USA is a significant worldwide economy. The market is mainly industrialized, as evidenced by high technology manufacturing and skilled services accounting for 80% of total output. The US sells primarily to Canada, China, Mexico, and Japan and imports primarily from China.


The ZAR/USD exchange rate is calculated using a structural equation model that includes demand and supply for the US dollar and the South African rand.  The higher 10-year US government bond yield, South African real GDP, South African stock price, or South African rate of inflation would raise the ZAR/USD exchange rate, while a higher 10-year US government bond yield, South African real GDP, South African stock price, or US inflation rate would lower the ZAR/USD exchange rate, according to the article.

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