The currency pair is the Australian dollar to the South African Rand.
The Australian dollar, also called aussy, is a typical commodity currency, as its price is influenced by the prices of minerals exported by Australia. The largest importer of iron ore, coal and other natural resources is China, the state of its economy also has an impact on the volume of exports and, accordingly, the rate of the Australian dollar.
South Africa is the most economically developed country in the African continent. It has significant reserves of minerals, including copper, coal (80% of manganese and iron ore). Gold production is declining and previously the country took first place, but now its China, Australia, Russia and others, but still remaining in the top ten. The country has developed assembly production of cars and, according to this indicator, it holds the first place in Africa. They Also developed a rural economy.
South Africa is Australia's main trading partner in Africa. From Australia, raw materials are exported, including bauxite and aluminium, which are not found in South Africa. Australia buys cars (BWM), trucks, as in both countries are right-hand drive which ws inherited from the UK, and also produces auto parts and a number of other industrial goods.
The AUD / ZAR currency pair is built on the principle of direct quotation. The base currency is AUD - the Australian dollar, and quoted - ZAR, South African rand. The appreciation of the currency pair means the strengthening of the Australian dollar against the South African rand, that is, more ZAR is required to buy one AUD. A decrease in the rate indicates the strengthening of ZAR.
Using the current exchange rate chart, you can monitor the volatility of a currency pair in real time.
Australian dollar - (bank code: AUD) - the official currency of the Commonwealth of Australia, also has circulation on the islands of Christmas, Cocos Islands and Norfolk Island. In addition, AUD has circulation in the states: Kiribati, Nauru and Tuvalu. The issue of the Australian dollar, as well as the regulation of the Australian banking and monetary system is carried out by the Reserve Bank of Australia (RBA).
South African Rand - (bank code: ZAR) is the official currency of the Republic of South Africa, it is also the currency of Namibia and Lesotho, which, together with South Africa, are parties to the Multilateral Currency Agreement. Also, the Swaziland-Lilangeni (SZL) currency is linked to the South African rand in a 1: 1 ratio. The rand plays a significant role in the exchange rate of the national currency of Botswana-pula. The issuer of the rand is the South African Reserve Bank (SARB)
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