Check out today's USDZAR Forex Signal: forex forextrade forextrading
The pair has risen by more than 25% in the past 12 months. The South African rand has fallen by more than 57% from the lowest level in February 2018.The USD/ZAR price continued rising even after the relative strong consumer inflation data. According to the South African statistics agency, the headline consumer inflation rose to 7.5% in September. Core, which excludes the volatile food and energy prices, rose from 4.4% in August to 4.7% in September.
Still, there are concerns that the South African economy will continue struggling in the coming months. A major concern is energy, where power outages have continued in the past few months. Its unemployment rate has continued rising in the past few months. The latest data showed that the rate rose to 33.9%.
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