African Rand Currency Pairs. Weve compared their spreads, features, and key information below. Since the election of President Jacob Zuma in 2009, the rand has resumed a trend of weakening amid concerns over the strength of the countrys export sector. In addition to serving as the official currency of South Africa, it is also used in Lesotho and Namibia. In forex trading on the Johannesburg stock exchange, the South African rand is commonly traded with several currencies, including. A volume of approximately US60 billion of the currency is traded daily on South Africas foreign exchange market including spot and futures trade. In subsequent years, this was successively replaced by the Dutch guilder and the rix-dollar, a sterling silver coinage common in Northern Europe. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab. This was as a result of a decision in 1956 to move the currency away from the Pounds, Shillings and Pence system that was previously in existence. As it is a commodity currency, the Rand is also very reactive to changes in the global pricing of commodities, and any slowdown or other financial issues in the economies of the countries with which South Africa has a strong trading partnership, such as China. Its major exports include diamonds, corn, fruit, metals, gold, minerals, wool and sugar.
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South Africas top trading partners are China, the.S., the United Kingdom, Germany, Hong Kong and trieved 1 November 2015 ml, regulation, foreign exchange and financial trading in South Africa are regulated by the Financial Services Board and the South African Reserve Bank. In 1886 the discovery strategi trading dengan range harian of gold in the region by two prospectors attracted multitudes of wealth-seekers and labourers, which led to the founding of the city. The country has a diversified industrial sector and is a major producer of commodities. Understanding Pivot Points, pivot points are used by traders as a predictive indicator and denote levels of technical significance. USD, GBP, EUR, JPY, AUD, uSD, GBP, EUR, CHF, SGD, AUD, HKD, PLN. Despite the fact that the contribution mining makes to the nations GDP has fallen over recent years, it still makes up more than half of the countrys exports. These factors all cause foreign investors to lose confidence in the currency, causing them to choose to invest in safe-haven currencies rather than risk volatility.