South African Rand | ZAR to USD last = 14.983 1w: +0.07 (0.5%)
202120222023
Consensus (median)141413
High estimate171814
Low estimate131213
Standard Deviation220
Count of Estimates862
History
Forecast
Forecast Summary
RankN/S0*1*2*3*4*5*
Strong Weak       
Weakening       
Flat       
Strengthening       
Strong Stren.       
Forecast Distribution
Company plot
[Negative]

The ZAR appreciation vs USD mostly reflects reduction in political risk, due to new African National Congress leadership and Zuma's early dismissal. Market in anticipation of reforms and their positive impact on economic conditions and political environment. But I think this reduction in political risk primarily reflects hope of future changes, not their implementation. Therefore I expect further ZAR depreciation vs USD.