Dollar-to-Rand Forecast for Tomorrow, This Week, and Month (USD/ZAR)
USD/ZAR is a forex ticker that tells traders how many Rands are needed to buy one US dollar. For example, if the pair is trading at 18.72, it means it takes 18.72 South African Rand to buy 1 US dollar.
The U.S. dollar to the South African rand is a popular exotic pair in the Forex market. Major political developments and oil prices have an impact on the value of the US dollar, while gold prices have an impact on the value of ZAR because it is a commodity currency.
Due to improved economic conditions in South Africa, higher commodity prices, and increased demand for emerging market assets worldwide, the rand appreciated vs. the US dollar. Overall, though, the trend is still rising, and the price is getting closer to its all-time high, which was set in April 2020.
In this blog post, we will shed light on the intricacies of the US Dollar to Rand exchange rate and provide a comprehensive forecast for tomorrow and the week ahead.
On this page, you will find the latest information about the current price of the US Dollar to Rand and forecasts exchange rate for tomorrow, this week, and this month.
- The technical indicator data is updated based on a specific time frame.
- USD to ZAR exchange rate forecasts are updated daily.
- Price charts and the latest exchange rates are updated in real time.
Indicator-Based Technical Analysis of USD/ZAR
You can find better entry points through the indications of the technical analysis tools given below.
- “Sell” or “Strong Sell” means that most signals are bearish.
- “Buy” or “Strong Buy” means that most signals are bullish.
Keep in mind that signals may vary in different time frames. For short-term transactions, it is recommended to use settings ranging from 5 minutes to 2 hour. And if you want to hold USD/ZAR for more than a week, it is recommended to use settings ranging from days to weeks.
Dollar to Rand forecast for tomorrow, this week, and this month
The Dollar to Rand exchange rate forecast for tomorrow is 18.78 Rand.
| Date | Weekday | Minimum | Maximum | Rate |
|---|---|---|---|---|
| 15/05 | Thursday | 18.04 | 18.58 | 18.31 |
| 16/05 | Friday | 18.02 | 18.56 | 18.29 |
| 19/05 | Monday | 17.98 | 18.52 | 18.25 |
| 20/05 | Tuesday | 18.04 | 18.58 | 18.31 |
| 21/05 | Wednesday | 17.98 | 18.52 | 18.25 |
| 22/05 | Thursday | 17.88 | 18.42 | 18.15 |
| 23/05 | Friday | 17.70 | 18.24 | 17.97 |
| 26/05 | Monday | 17.65 | 18.19 | 17.92 |
| 27/05 | Tuesday | 17.70 | 18.24 | 17.97 |
| 28/05 | Wednesday | 17.73 | 18.27 | 18.00 |
| 29/05 | Thursday | 17.60 | 18.14 | 17.87 |
| 30/05 | Friday | 17.47 | 18.01 | 17.74 |
| 02/06 | Monday | 17.60 | 18.14 | 17.87 |
| 03/06 | Tuesday | 17.65 | 18.19 | 17.92 |
| 04/06 | Wednesday | 17.52 | 18.06 | 17.79 |
| 05/06 | Thursday | 17.44 | 17.98 | 17.71 |
| 06/06 | Friday | 17.47 | 18.01 | 17.74 |
| 09/06 | Monday | 17.46 | 18.00 | 17.73 |
| 10/06 | Tuesday | 17.28 | 17.80 | 17.54 |
| 11/06 | Wednesday | 17.40 | 17.92 | 17.66 |
| 12/06 | Thursday | 17.19 | 17.71 | 17.45 |
| 13/06 | Friday | 16.96 | 17.48 | 17.22 |
| 16/06 | Monday | 17.04 | 17.56 | 17.30 |
| 17/06 | Tuesday | 16.64 | 17.14 | 16.89 |
Current USD to ZAR Chart
Latest Exchange Rates Online
What Factors Influence the USD/ZAR Long-Term Price Forecast?
These are the major factors that affect USD and ZAR prices.
- Commodity Prices: An important factor is commodity prices, as South Africa’s economy depends heavily on commodity exports such as gold, platinum, and coal. The value of the rand may be affected if commodity prices rise or fall in global markets.
- Interest rates: Interest rates are another factor responsible for USD-ZAR price fluctuations. Interest rate changes by the South African Reserve Bank or the US Federal Reserve affect the relative value of the rand and the dollar. Higher South African rates attract investment and strengthen the rand.
- Economic growth: Increased exports and investment flows from South Africa can strengthen the country’s economy, thereby strengthening the rand. At the same time, if there is weak growth in the economy, then, as a result, RAND also becomes weak.
- US Dollar Strength: Generally, the rand moves against the US dollar. As the US dollar strengthens against other major currencies, the rand typically experiences a decline in value.
- Monetary Policies: Currency valuations are influenced by the statements and actions of the Federal Reserve System (FED) and the South African Reserve Bank (SARB). The US dollar often falls and the rand rises when quantitative easing is implemented.
FAQs
Is the USD/ZAR pair appropriate for beginners in trading?
Beginners are not advised to trade the USD/ZAR pair, as trading the US Dollar (USD) and South African Rand (ZAR) exotic pair can be challenging. As an exotic pair, USD/ZAR sees higher volatility and less liquidity than usual, making it one of the riskier trading pairs.
Beginners are generally advised to trade major forex pairs, including EUR/USD, USD/JPY, or GBP/USD. This pair is more liquid. Only after gaining experience from here should beginners consider trading more exotic currency pairs like USD and ZAR.
What is the risk of trading USD/ZAR?
Traders should be aware of the risks associated with trading USD and ZAR. According to IG International reports, USD/ZAR is one of the riskier trading pairs, as it is experiencing higher volatility and less liquidity than usual.
It is an “exotic currency pair,” as we mentioned above, which means that USD/ZAR is generally less liquid than major currency pairs. This may result in larger spreads and higher trading fees.
Price Prediction Methodology
The following tools are used to make predictions:
- Technical analysis is the basic tool. This involves studying price charts and using indicators to forecast future price movements. The analysis was mostly done on medium- and long-term time frames for more accurate results.
- Fundamental analysis involves examining the financial health and market factors of a company to predict its future performance.
- Predictive modeling uses statistical algorithms to forecast future prices based on historical data.
- Forecasts are based on consensus and expert opinion.
This article is intended for informational purposes only and does not constitute investment advice. Be aware of the high volatility of the forex market and consider these risks when making investment decisions.
