Exchange Rate Calculator

The exchange rate between the New Zealand Dollar (NZD) and the South African Rand (ZAR) has exhibited notable fluctuations over the past several months. Understanding these movements requires an examination of historical data, technical indicators, and economic factors influencing both currencies.

Historical Exchange Rate Analysis

From September 2024 to March 2025, the NZD/ZAR exchange rate experienced a downward trend. The highest rate during this period was 10.965 ZAR per NZD on September 30, 2024, while the lowest was 10.253 ZAR per NZD on December 11, 2024. This represents a decline of approximately 3.89% over six months.

In January 2025, the exchange rate peaked at 10.656 ZAR per NZD on January 13, with an average rate of 10.526 ZAR for the month. February 2025 saw a slight decrease, with the lowest rate of 10.388 ZAR per NZD on February 10 and an average of 10.511 ZAR.

Technical Indicators

As of February 21, 2025, technical analysis indicated a bearish outlook for the NZD/ZAR pair. The Relative Strength Index (RSI) stood at 40.849, suggesting selling pressure. The Moving Average Convergence Divergence (MACD) was at -0.009, reinforcing the bearish sentiment. Additionally, the Average Directional Index (ADX) at 27.265 indicated a strong trend, albeit downward.

Economic Factors Influencing the Exchange Rate

Several economic factors have contributed to the observed exchange rate movements:

• Interest Rates: Differences in interest rates between New Zealand and South Africa can influence investor behavior. Higher interest rates in New Zealand may attract investors seeking better returns, strengthening the NZD against the ZAR.

• Economic Performance: Indicators such as GDP growth, unemployment rates, and trade balances affect currency strength. Strong economic performance in New Zealand relative to South Africa can bolster the NZD.

• Political Stability: Political events and stability in either country can impact investor confidence and currency valuation.

Forecasts and Projections

Looking ahead, forecasts suggest a potential increase in the NZD/ZAR exchange rate over the next six months, with a projected rise of 2.12% to approximately 10.76 ZAR per NZD. However, a longer-term outlook indicates a possible decline of 1.44% over the next year, bringing the rate down to around 10.39 ZAR per NZD.

Conclusion

The NZD/ZAR exchange rate has shown a downward trend over the past several months, influenced by technical indicators and economic factors. While short-term forecasts predict a slight increase, the longer-term outlook suggests potential depreciation. Investors should monitor economic developments and technical signals to make informed decisions regarding this currency pair.