Exchange4Free South Africa

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In the absence of any notable domestic data, movement in the South African rand (ZAR) is likely to be tied to market ris...
09/09/2024

In the absence of any notable domestic data, movement in the South African rand (ZAR) is likely to be tied to market risk dynamics this week. Expect to see the rand falter if a risk-off mood prevails.

Meet Kerri Marks! 🌟With over 14 years of Business Development experience, Kerri exemplifies leadership through action an...
30/08/2024

Meet Kerri Marks! 🌟

With over 14 years of Business Development experience, Kerri exemplifies leadership through action and a commitment to delivering outstanding customer service.
As a Foreign Exchange Specialist, Kerri focuses on cross-border payment remittances for both individuals and corporates, bringing a solution-driven mindset that makes her an invaluable asset to the team. Her passion and expertise shine through in every challenge she faces.
Beyond her professional role, Kerri is a devoted mom of three, a loving wife, and a cherished colleague. She gracefully balances her career and personal life with dedication and determination.

Join us in celebrating Kerri's incredible contributions and her unwavering commitment to excellence! đź‘Ź

This week, initial movement in the rand is likely to be dictated by market risk sentiment. Later on, South Africa's rece...
27/08/2024

This week, initial movement in the rand is likely to be dictated by market risk sentiment. Later on, South Africa's recent PPI data will influence the rand's direction. A drop in producer prices for July might lead to a weaker rand. Stay tuned for updates!

What an amazing experience at the Hereford Golf Day last month! 🌟We were honored to sponsor this event in KZN with our v...
22/08/2024

What an amazing experience at the Hereford Golf Day last month! 🌟

We were honored to sponsor this event in KZN with our valued partners. The day was a perfect blend of golf, camaraderie, and most importantly, contributing to a cause close to our hearts—raising funds for CHOC. 🏌️‍♂️⛳️❤️

A big thank you to everyone who participated and supported this meaningful cause. Together, we are making a real difference in the lives of children and their families.

Currencies Direct South Africa

South Africa is set to release its latest consumer price index this week. Economists expect inflation in this emerging m...
19/08/2024

South Africa is set to release its latest consumer price index this week. Economists expect inflation in this emerging market to have cooled again in July, which could fuel speculation about rate cuts by the South African Reserve Bank (SARB) and put downward pressure on the South African rand (ZAR).

19/07/2024

đź“ŁOur services are now running as normal. Thank you for your patience while we worked with our providers to resolve the issues caused by the global IT outage. Our teams are on hand if you need any assistance.

19/07/2024

🚨Today’s global IT outage is having an impact on our services, including limiting access to our online systems. We’re really sorry for any inconvenience this may cause and are working with our providers to try to get the situation resolved as quickly as possible. If you have any concerns please call our team.

Rand muted as markets brace for US inflation The rand remained in a narrow 15-cent trading range yesterday before closin...
10/01/2024

Rand muted as markets brace for US inflation

The rand remained in a narrow 15-cent trading range yesterday before closing softer at R18.70/$ on the back of the slightly firmer US dollar. This morning, the local unit is quoted at R18.68/$, in line with flat EM markets.

In the absence of any notable data, volatility in the currency market may be limited today, particularly as investors will be reluctant to take on any significant positions ahead of tomorrow’s US inflation data, marking the week’s most significant and market-moving event. A weak reading tomorrow could see USD come under renewed pressure.

Over in the UK, GDP figures are to be released on Friday, with predictions stating that it is likely to reflect a slightly lower figure than the previous release.

A new report from Financial Action Task Force in November 2023 supports the view of National Treasury that South Africa will be removed from the dreaded grey-list by 2025, however, a lot of work is still to be done as measures are in place but needs to be enforced.

At this stage, trading volumes are still quiet with people starting up for the year.

Latest Rates
USD/ZAR 18.734
GBP/ZAR 23.784
EUR/ZAR 20.475
AUD/ZAR 12.54
NZD/ZAR 11.679
CHF/ZAR 21.994
SGD/ZAR 14.073

Rand buoyed by improving domestic outlookDespite the rand’s lackluster start to the year, the local unit managed to find...
09/01/2024

Rand buoyed by improving domestic outlook

Despite the rand’s lackluster start to the year, the local unit managed to find modest gains yesterday ahead of key US CPI inflation data later this week.

Locally, Central Bank data revealed that South Africans net foreign reserves and gross reserves increased in December and that SA manufacturing also improved due to a reduction in loadshedding over the holiday season. As a result, by late afternoon yesterday, the rand was trading at 18.620 USD/ZAR, approximately 0.45% stronger than its previous close.

The highlight of the week revolves around US inflation data scheduled for Thursday, which is expected to provide some clarity on the Federal Reserve’s monetary policy stance, which more often then not determines the direction for emerging market currencies, such as the local unit. The rand is expected to come under further pressure due to major uncertainty surrounding loadshedding and an election later this year, so a dovish stance by the US Fed would be very welcomed by ZAR investors.

Economic news scheduled for the rest of the week:
SA manufacturing Production MoM/ YoY (3:30 pm, Thursday)
US Core Inflation Rate MoM/ YoY (3:30 pm, Thursday)
US inflation MoM (3:30 pm, Thursday)
GB GDP MoM (09:00 am, Friday)

Latest Rates:
USD/ZAR 18.606
GBP/ZAR 23.717
EUR/ZAR 20.389
AUD/ZAR 12.4819
NZD/ZAR 11.621
CHF/ZAR 21.9524

Rand gains momentum heading into the new trading week The rand received a much-needed boost on Friday, following a sharp...
08/01/2024

Rand gains momentum heading into the new trading week

The rand received a much-needed boost on Friday, following a sharp pullback in the US dollar.

This slump in USD came despite the latest US payrolls figures beating expectations. December’s data indicated that the US economy added 216,000 jobs:, exceeding economist's expectations for a more modest rise of 150,000. While this weakened bets on a March interest rate cut from the Federal Reserve, the subsequent release of a weaker-than-expected US services PMI saw the US dollar end the week on a sour note.

Across the pond, the UK economy is still struggling with inflation and borrowing costs at a now 15-year high. Despite this, there is a glimmer of light with the services PMI (Purchasing Managers Index) showing an increase to 53.4, meaning that the services sector is still showing signs of strength in a somewhat down-beat environment.

In upcoming news this week, we have inflation figures from the US on Thursday as well as UK GDP data on Friday.

That's about it from our side, have a great day and week ahead!

Latest Rates:
USD/ZAR 18.728
GBP/ZAR 23.804
EUR/ZAR 20.501
AUD/ZAR 12.557
NZD/ZAR 11.678
CHF/ZAR 22.031
SGD/ZAR 14.059

ZAR undermined by easing Fed rate cut expectations The rand traded around 18.65 USD/ZAR yesterday, far weaker than the r...
19/12/2023

ZAR undermined by easing Fed rate cut expectations

The rand traded around 18.65 USD/ZAR yesterday, far weaker than the recent one-month high of $18.15.

This came as the US dollar stabilised after warning signs over the weekend that markets were getting ahead of themselves in pricing in an imminent interest rate cut from the Federal Reserve.

Several Fed policymakers have now pushed back against speculation that the US central bank will begin its cutting cycle in March. This has triggered a deterioration in risk appetite and sparked a 1.25% decline in the local unit yesterday.

Locally, the South African Reserve Bank (SARB) kept its interest rate unchanged for the third meeting in a row in November and is expected to do the same on the 25th of January. The interest rate was kept at a 14-year high of 8.25% and the SARB emphasized that inflationary risks continue to persist.

South Africa's annual inflation rate relaxed to 5.5% in November 2023, down from a five-month high of 5.9% in October, approaching the midpoint of the central bank’s target interest rate of 3% - 6%.

Reports to watch out for in the next few days include the publication of the Eurozone’s latest inflation figures at 12:00 today, UK inflation rate tomorrow at 09:00 and US GDP out on Thursday at 15:30.

Latest Rates:
USD/ZAR 18.5611
GBP/ZAR 23.5009
EUR/ZAR 20.2865
AUD/ZAR 12.4737
NZD/ZAR 11.5654
CHF/ZAR 21.4345
SGD/ZAR 13.9396

South African’s have woken up to not only receiving a long weekend gift from the SA President, declaring last Friday a p...
18/12/2023

South African’s have woken up to not only receiving a long weekend gift from the SA President, declaring last Friday a public holiday (thanks to our memorable Springboks Rugby victory) but also receiving a strong rand sitting under the Christmas tree. The local unit opens today’s session at 18.27 against the US dollar.

A recap on the events last week, the USD/ZAR exchange rate hit a low of 18.15, before the US dollar subsequently rebounded in the afternoon, after the Federal Reserve policymaker John Williams sought to dispel expectations that an interest rate cut from the US central bank is imminent.

Across the pond, the European Central Bank (ECB) and Bank of England (BoE) opted to leave interest rates unchanged as they concluded their latest policy meetings on Thursday, and both sought to push back against rate cut speculation. Investors, nonetheless are still betting on interest rates cuts from both central banks as the global markets digest a mixed risk-on sentiment.

Have a good week ahead. Only seven days until Christmas!

Latest Rates:
USD/ZAR 18.27
GBP/ZAR 23.18
EUR/ZAR 19.94
AUD/ZAR 12.26
NZD/ZAR 11.29
CHF/ZAR 21.01
SGD/ZAR 13.71

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