Convert CHF to ZAR
CHF/ZAR sees significant price action on the release of important economic data from Switzerland and South Africa, including GDP, inflation, trade balance, employment, business sentiment, retail sales, as well as PMI readings of the manufacturing and services sectors.
The CHF/ZAR currency pair also gets affected by changes to the monetary policy and interest rates by the Swiss National Bank (SNB) and the South African Reserve Bank (SARB). For instance, whenever the SARB hikes interest rates or adopts a more hawkish approach towards its monetary policy, the ZAR strengthens, turning this forex pair bearish, and vice versa.
The CHF/ZAR fell to a low of 14.3470 on 2 January 2020. This was the weakest level this currency pair touched so far this year.