EUR/ZAR
What is EUR/ZAR CFD?
EUR/ZAR CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the Euro against the South African Rand.
The Euro, issued by the Eurozone, is one of the world's major currencies. Its value is influenced by the economic performance of the Eurozone countries, monetary policy set by the European Central Bank (ECB), and overall global economic conditions.
The South African Rand, issued in South Africa, is heavily influenced by commodity prices, particularly gold and platinum, due to South Africa's significant natural resource exports.
The Rand may experience fluctuations in response to these commodity prices, domestic political stability, and economic indicators related to South Africa. The EUR/ZAR currency pair will be influenced by the relative economic performance and monetary policies of the Eurozone and South Africa, and also heavily by the commodity markets and South African political stability.