Forex Zambia
1 USD = 16.4314 ZAR
Indicative rate, updated 7 hours ago. Not a live dealing rate - confirm with your broker before trading.
A live technical-analysis reading for USD/ZAR, from Strong Sell to Strong Buy, updated automatically by TradingView. Forex has no reliable, freely-published Fear & Greed Index the way stocks or crypto do, so this momentum-based gauge is shown instead.
USD/ZAR tracks the US Dollar against the South African Rand, driven mainly by South African Reserve Bank policy, local political developments and global risk sentiment. As a fellow African currency, its moves are a useful comparison point for how the Kwacha is performing against similar economies.
Rates shown here are indicative only, sourced periodically rather than streamed live. Confirm the exact rate with your bank or broker before converting funds or opening a trade.
Latest
16.2938
25 Sep 2026
Highest on record
19.7838
31 May 2023
Lowest on record
5.6188
3 Jan 2005
12-month average
16.5691
15.6738 – 17.4693
Over the past year USD/ZAR has fallen 6.08%, meaning the USD has weakened against the ZAR. In the last 30 days it has moved up 2.37%. Across the last 12 months it traded between 15.6738 and 17.4693. Its highest level in the available history (since 1999) was 19.7838 on 31 May 2023, and its lowest was 5.6188 on 3 Jan 2005.
Based on daily data from 4 Jan 1999 to 25 Sep 2026. Source: ECB reference rates (via Frankfurter). A rising rate means the USD is strengthening against the ZAR. Past performance does not predict future results.
A pair's price is one currency's value measured against another, so the economy behind each side matters.
United States · Federal Reserve (Fed) · Free float
The US Dollar is the world's dominant reserve and trading currency. It sits on one side of roughly nine in ten forex trades, and most commodities, including copper, are priced in it.
South Africa · South African Reserve Bank (SARB) · Free float (inflation targeting)
The Rand is Africa's most-traded currency and a widely used proxy for emerging-market risk. It reacts to commodity prices, global risk appetite and domestic politics and energy supply.
The US Dollar is a traditional safe haven. In periods of market stress, investors tend to move money into it, which often pushes it higher against the South African Rand even when local economic data is unchanged. Because the South African Rand tends to do well when investors are optimistic, USD/ZAR is widely watched as a barometer of global risk appetite.
The South African Rand is an emerging or frontier-market currency. Compared with a major reserve currency, its market is thinner, so shifts in global risk appetite, Dollar liquidity and capital flows can move it faster and further than fundamentals alone would suggest.
Central-bank policy matters on both sides: the Federal Reserve (Fed) and the South African Reserve Bank (SARB). When one of them is expected to keep interest rates higher than the other, that currency usually attracts capital and strengthens; a narrowing gap tends to reverse the move.
Typically rises with the Dollar
Usually moves inversely to the Dollar
Risk-off episodes tend to boost the Dollar
Typically support the Rand
Tend to move with the Rand
2001 ZAR
A sharp sell-off took USD/ZAR to about 13.8 before a recovery.
2008 USD
The global financial crisis triggered a surge in safe-haven Dollar demand.
2014–15 USD
The Fed signalled tighter policy while other central banks eased, driving a powerful Dollar rally.
2015 ZAR
The abrupt firing of the finance minister ("Nenegate") triggered a big Rand sell-off.
2020 USD
In March 2020 a global "dash for Dollars" sent the currency sharply higher before the Fed flooded markets with liquidity.
2020 ZAR
The pandemic pushed USD/ZAR close to 19–20 per Dollar.
2022 USD
The fastest Fed hiking cycle in decades pushed the Dollar to a roughly 20-year high, including parity with the Euro.
2023 ZAR
Energy shortages and geopolitical concerns pushed the Rand back close to the 19–20 zone.
As a fellow African currency, USD/ZAR is a useful yardstick for how the Kwacha is performing against regional economies. It also matters for cross-border trade in Southern and East Africa.
Compare brokers offering these pairs →Most active: New York session (and the London–New York overlap) • Johannesburg business hours and the London session
1 USD is worth about 16.4314 ZAR (indicative, updated 7 hours ago). Always confirm the exact rate with your bank or broker before you convert or trade.
In the data we track (since 4 Jan 1999), USD/ZAR peaked at 19.7838 on 31 May 2023 and bottomed at 5.6188 on 3 Jan 2005.
USD/ZAR is influenced by the relative strength of the US Dollar and the South African Rand. Key factors include: Federal Reserve interest-rate policy, US inflation and jobs data, Commodity prices, Global risk appetite. See the sections above for the full list.
Activity and liquidity are typically highest during: New York session (and the London–New York overlap) • Johannesburg business hours and the London session. Spreads are usually tighter when the relevant markets are open.
USD/ZAR can be more volatile or carry wider spreads than the major pairs, so it usually suits experienced traders better. If you are new, start with a demo account and a major pair. Trading forex carries a high risk of loss.
This page is educational and is not investment advice. Rates, statistics and commentary are indicative and may contain errors or be out of date. Forex and CFD trading carries a high risk of loss.