Following the great commercial relations between the European Union and South Africa, the EURZAR index is important. South Africa is a major export nation, and its currency's value and fluctuations could be essential to your investment portfolio.

What is EURZAR?

The EURZAR index shows the relationship between the Euro currency and the South African Rand. It's a relatively new index since it was adopted in 2002, after introducing the Euro to the world monetary and forex markets. The European Central Bank and the South African Central Bank regulate the index, which operates with free bids for the two currencies. Everyone who wants to know how to trade EURZAR should pay attention to the relationship between both central banks.

How does the EURZAR market work?

The EURZAR index increases or decreases according to the relative value of the two currencies. When there is a high demand for South African Rands in the market, the index goes down, or otherwise, it will go up.

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURZAR start without risking their real assets.

EURZAR price history

The latest EURZAR price history is briefed below. However, investors must remember that referring to the past performance of this asset may not be a reliable indicator of future results.

2018

For most of the year, the price of EURZAR was close to 16 South African Rands for 1 Euro. That was the median price for a long time, showing the stability of the commercial relations between the two economic regions.

2019

During 2019 there were a lot of fluctuations in the EURZAR index. However, the price was close to 15 South African Rands for 1 Euro, which is one of the lowest in recent history. That made many investors win and have great returns for their investments.

2020

2020 was a bad year for the South African economy, which was barred from exporting goods and services. The EURZAR index went up in favor of the common European currency, reaching the level of 20 South African Rands per 1 Euro. It remained there till the end of the year, showing the recession in the South African economic area.

2021

Things returned to normal in 2021 when the South African economy jumpstarted again. The EURZAR index went down to favor the South African Rand, close to 16 Rands for 1 Euro. That was the reason for the spike in South African exports to the European Union right after the pandemic outbreak.

2022

During 2022 the fears of global recession affected the South African economy. There were issues with overprinting of South African Rands, and that's why the index went up in favor of the Euro. The median price for the year was about 17.5 South African Rands for 1 Euro, allowing EU customers to have privileged access to goods and services from the South African economic region.

Current EURZAR price

The current EURZAR price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURZAR a good investment?

Whether EURZAR is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors eager to learn how to invest in forex worldwide.

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