This week, the South African Rand sharply declined against major currencies due to negative market reactions following the national budget.

Here is a list of the ten most powerful currencies on the African continent. See where South Africa sits on the list!

South Africa’s rand slipped against the dollar on Wednesday as a drop in domestic inflation did little to prop up the currency ahead of an interest rate decision by the U.S. Federal Reserve.

The dollar remained on the back foot versus major rivals on Wednesday, as traders braced for the conclusion of a Federal Reserve policy meeting.

The South African rand was weaker in early trade on Monday ahead of a week jam-packed with both local and global economic data releases.

The Dollar started steady on Monday, with a reading on U.S. inflation and the Federal Reserve’s last policy meeting for the year likely to set the tone for the week.

The South African rand gained on Thursday on increasing bets that the U.S. Federal Reserve might implement interest rate cuts early next year.

The South African rand firmed on Wednesday after subdued U.S. labour data boosted bets that the Federal Reserve was done hiking interest rates and might start easing its monetary policy early next year.

Sterling hovered around its highest levels in almost three months against the euro on Tuesday, as markets raised their bets on rate cuts by the European Central Bank.

The South African rand was weaker in early trade on Monday against a stronger dollar ahead of a data-filled week both locally and abroad.

The dollar helt tight on Monday as markets took stock of cautious remarks from Fed Chair Jerome Powell as they waited on a key employment report that could influence the outlook for U.S. interest rates.

MSCI’S global stock index rose on Thursday while the Dow closed at its highest level since mid-January 2022, and bond yields and the dollar gained after Federal Reserve officials sounded caution about interest rate cuts.

The South African rand regained lost ground on Friday against the U.S. dollar while global focus remained on conflict in the Middle East.

Watch news in a minute for a summary of The South African rand extended losses on Tuesday, bearing the brunt of the stronger dollar.

The U.S. dollar loiters at at an over two-month peak on Friday, on course for its sixth straight week of gains as markets await a speech from Federal Reserve Chair Jerome Powell to gauge the path of monetary policy.

The South African rand retreated on Friday, bringing last week’s rally to a halt as prolonged power blackouts and expectations that the central bank will leave its main interest rate on hold.

The South African rand has taken a battering in recent weeks and months as dreams of holidays abroad remain just that – a dream.

The South African rand has taken a battering in recent weeks and months as dreams of holidays abroad remain just that – a dream.

The South African rand has taken a battering in recent weeks and months as dreams of holidays abroad remain just that – a dream.

The South African rand has taken a battering in recent weeks and months as dreams of holidays abroad remain just that – a dream.

South Africa’s rand weakened against a stronger U.S. dollar on Friday, as an international financial crime watchdog added South Africa to its list of countries needing special scrutiny.

The rand is now weaker than ever due to the COVID-19 pandemic and a further downgrade by Fitch.

It’s like landing a knockout blow on a boxer down on the canvas. The rand value – and exchange rate with the US dollar – has been pummeled by coronavirus.

It’s never easy viewing, but the Rand to Dollar exchange rate doesn’t look great for South Africa. Here’s why ZAR has hit its worst slump for a year.

The rand’s decline has been exacerbated by the impact of the NHI proposals. But how has the worst exchange rate in a year hurt local industries?