17.454 ZAR
-0.03 (-0.18%)

USDZAR Key Statistics

Open price
17.48578
High today
17.49054
Low today
17.43683
52 Week high
19.39228
52 Week low
17.03423
Trading hours
-12:00
-11:00
-10:00
-09:00
-08:00
-07:00
-06:00
-05:00
-04:00
-03:00
-02:00
-01:00
UTC 00:00
+01:00
+02:00
+03:00
+03:30
+04:00
+04:30
+05:00
+05:30
+05:45
+06:00
+07:00
+08:00
+09:00
+09:30
+10:00
+11:00
+12:00
+12:45
+13:00
+14:00
UTC 00:00
Symbol trading specification
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USDZAR
17.454 
-0.03 (-0.18%)  

About USDZAR

The USDZAR is a currency pair involving the US (USD) and South African (ZAR) currencies. It tells investors about the number of ZARs required to buy a USD. Let's understand it with an example.

What is USDZAR?

The USDZAR is an exotic pair, which means it has low liquidity compared to the forex market's major currency pairs. Also, it has a higher spread, meaning that the buying and selling price difference is more remarkable. Hence, it increases the transaction costs and chances of slippage and affects the trading strategies. Despite this, the USDZAR has many traders because of a more developed African economy than other developing countries. Like all other currency pairs, the USDZAR exchange rate fluctuates over time.

Here are some factors responsible for these fluctuations, including economic indicators and export goods. Additionally, traders learning how to invest in USDZAR must remember about political stability, which can significantly impact the currency pair value’s movements. Similarly, changes in monetary policies like interest rates, global trade tensions, and risk sentiments also affect exchange rate fluctuations.

How does USDZAR work?

The USDZAR trades on the forex market using support, resistance, and chart pattern strategies. The traders speculate on the exchange rate movements and buy or sell the pair to generate profit. Yet, everyone present in the forex market must prepare for the risk of potential losses by diversifying their portfolio. The currency pair works by trading on various platforms, like SimpleFX. First, the trader needs to open an account. SimpleFX provides a demo account where investors can learn how to trade USDZAR. It gives access to the simulation of real-time market conditions without financial risks.

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