|24h Vol (Global)||USD|
Explore the Euro/South African Rand live chart. With this interactive tool, you can review the price of EUR/ZAR, analyze rate trends in real time, track the EUR/ZAR pair exchange rate in historic terms, and build your trading strategy to trade EUR/ZAR with leverage on PrimeXBT.
Even though the EUR/ZAR currency pair is not a major one, it has a sizable global following. The correlation of two major global economies, the Eurozone and South Africa, has a big impact on the pair's relationship. Because the financial statuses of the two economies are influenced by many different factors, the pair's behavior is frequently erratic. Despite its volatility and difficulty in forecasting, EUR/ZAR could be a very useful tool in the portfolio of a seasoned trader. South Africa is Africa's most developed country. The country has a distinct local flavor due to its unique culture based on Zulu, Dutch, and English traditions. The country's wealth of coal, ore, gold, diamonds and other valuable resources generates substantial revenues, making the rand rate highly reliant on global gold and raw material prices, which must be considered when constructing a chart analysis.
The euro is the European Union's monetary unit and currency, denoted by the sign €. It was first introduced as a non cash monetary unit in 1999, then as currency notes and coins in 2002. The euro replaced the currencies of participating EU countries as well as certain non-EU countries.
The South African rand (ZAR) is the country's official currency, with the sign ZAR serving as the currency's currency abbreviation in foreign exchange (Forex) markets. The rand of South Africa is made up of 100 cents and is typically denoted by the letter R. The Witwatersrand ("white waters' ridge" in English; rand is the Dutch and Africans word for "ridge"), on which Johannesburg is situated and where most of South Africa's gold reserves were discovered, gave the rand its name.
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