The South African rand traded lower around 14.6 against the greenback on Friday, moving away from a six-week peak of 14.5 touched in the previous session, as the dollar recovered some ground and Treasury yields moved higher. Locally, investors digest weak manufacturing data pointing to a slow recovery, while wait for fresh data on mining and retail sales set to be released next week for a complete picture of South Africa's economic performance during February.
Historically, the South African Rand reached an all time high of 19.35 in April of 2020. South African Rand - data, forecasts, historical chart - was last updated on April of 2021.
The South African Rand is expected to trade at 14.76 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 15.23 in 12 months time.