Convert CAD to ZAR - Canadian dollar to South African rand Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE CAD/ZAR EXCHANGE RATE
The CAD/ZAR symbol represents the currency pair trading the Canadian dollar against the South African rand, and is an exciting pair with high levels of volatility that offers plenty opportunities for experienced forex traders to generate pips. Both the CAD and the ZAR are considered as commodity currencies as Canada and South Africa are exporters of important commodities. While crude oil is Canada's biggest export, making significant contributions to its economy, South Africa exports commodities like gold, platinum, chromium, diamonds and even iron ore.As a result, the CAD/ZAR currency pair experiences ample volatility whenever the prices of these commodities go up or down in international markets. For instance, when crude oil prices fall, the Canadian dollar weakens and this forex pair trades bearish, as a result. On the other hand, when the price of iron ore falls, the ZAR weakens, turning this currency pair bullish.In the forex market, the ZAR is considered the second most volatile currency, after the Russian ruble. As an emerging market currency, the South African rand sees considerable volatility independent of commodity prices as well. The exchange rate of CAD/ZAR is also heavily influenced by the market sentiment - a risk-on mood not only strengthens both currencies, but makes the ZAR especially strong as traders move away from the safety of major currencies and towards the riskier emerging market currencies.
CAD to ZAR CONVERSION RATES
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CAD to ZAR CHARTS
CAD/ZAR Live Chart
CAD/ZAR Historical Chart
CAD to ZAR EXCHANGE RATE - FAQ
What key economic events influence price action in CAD/ZAR?

The CAD/ZAR currency pair sees significant price action on the release of important economic data from Canada and South Africa, including GDP, inflation, employment, trade balance, retail sales, PMI readings from manufacturing and services sectors, PPI and business confidence.

How do central bank decisions affect the exchange rate of the CAD/ZAR currency pair?

Both CAD and ZAR experience fluctuations on the release of important updates from the Bank of Canada and the South African Reserve Bank respectively, especially announcements related to the monetary policy and interest rates. For instance, if the BOC hikes interest rates or tightens its monetary policy, the CAD strengthens and causes the CAD/ZAR currency pair to trade bullish, as a result.

What was the lowest value of CAD/ZAR this year?

CAD/ZAR touched a high of 13.6369 on 6 April 2020. This is the strongest level the currency pair has traded at so far this year.