Forex charts are graphical representations of the relative values of various currency pairs. Charts come in three types: line, bar and candlestick charts, and they all tell their own stories. Staying on top of the chart-game is essential for every trader, given the fast-moving nature of the forex business. A proper forex portal will always provide up-to-date forex charts as well as technical analysis of the featured markets. FxExplained South Africa will focus more on currency pairs including the South African Rand than our other sites. Below you will see three of the world’s most traded currency pairs including the South African Rand (ZAR); the USDZAR, the GBPZAR and the EURZAR, please click on the charts to modify the view of each chart. Further below you have a wide range of clickable pairs where you will get a specific page for that pair with real time information on the value as well as the latest analyses on that specific pair.
The USD/ZAR chart represents the amount of South African Rand (ZAR) needed to purchase one US dollar, the GBP/ZAR represents the amount of ZAR needed to purchase one British Pound and the last chart, the EUR/ZAR, represents the amount of Rands needed to purchase one euro. Click on any currency pair above and you will get a specific page with a chart of that pair where you can play around with time periods, indicators and more in real time. Enjoy.
The Euro (EUR)
The Euro was introduced in 1999 and today the Euro is the closest challenger to the US dollar of becoming the world’s top reserve currency. It has not happened yet even though the currency serves more than 300 million people in Europe including quite a few booming economic countries. The European Central Bank (ECB) is the financial authority governing the Euro.
The US Dollar (USD)
The US dollar is both the world's most traded currency and also the top reserve currency in the world. Most commodities, like gold, are almost exclusively traded in the US dollar. The Federal Reserve is the financial authority governing the US dollar.
The South African Rand (ZAR)
Introduced in 1961, accompanying the birth of the Republic of South Africa, the ZAR used to enjoy a stronger valuation than the USD. Indeed, it wasn’t till 1984 that the strength of the ZAR was sapped by political turmoil and apartheid-related sanctions. The currency hasn’t managed to regain the lost ground since. The ZAR is actually the official currency of the Common Monetary Area, which includes – besides South Africa – Lesotho and Swaziland too. Namibia is another country which uses the ZAR.