The opinions and thoughts of politicians that are voiced in parliament, on the TV or even via social media also have an effect on the GBP to ZAR market. When a decision is made by either country’s central bank about inflation, waves are often created within the foreign exchange market and for the pound to rand rate. Alongside this, with uncertainty over Great Britain’s involvement with EU, the pound also suffers periods of uncertainty. The strength of the rand relies heavily on the economic development of the country, which in recent years has been struggling. The rand is a fairly new currency, introduced into the then Union of South Africa in 1961.
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