GBP/ZAR

GBP/ZAR CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the British Pound against the South African Rand.  

The British Pound, the currency issued in the United Kingdom, is one of the four major currencies. According to the 2022 BIS Triennial Central Bank Survey, the British Pound ranks fourth in trading volume, following the Japanese yen.  

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 GBP/ZAR currency pair will be influenced by the relative economic performance and monetary policies of the United Kingdom and South Africa, and also heavily by the commodity markets and South African political stability.