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Name Symbol Market Type
United States Dollar vs South African Rand FX:USDZAR Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.39565 -2.38% 16.2078 16.1928 16.2228 16.6327 16.04505 16.60673 0 23:32:05

South African Rand Rises Against U.S. Dollar After IMF Growth Upgrade

19/05/2017 9:03am

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US Dollar vs ZAR (FX:USDZAR)
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The South African Rand advanced against the U.S. dollar in the European session on Friday, after the International Monetary Fund raised the nation's growth forecast citing a resumption of solid agricultural production as the drought ends.

Concluding the 2017 Article IV consultation discussions with South Africa, IMF staff team led by Paolo Mauro said the pace of recovery this year and the next is unlikely to prevent a further increase in unemployment and a continued decline in per capita incomes.

The rand that closed yesterday's deals at 13.42 against the greenback gained to 13.23. The next possible resistance for the rand is seen around the 12.5 region.

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1 Year US Dollar vs ZAR Chart

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