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ZARCAD

$--
--%
1d
1w
1m

Analysis and statistics

  • Open
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  • Previous Close
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  • 52 Week Change
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  • Day Range
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  • 52 Week High/Low
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  • Dividend Per Share
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  • Market cap
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About

The symbol ZARCAD.FOREX typically refers to the South African Rand (ZAR) versus the Canadian Dollar (CAD) currency pair in the foreign exchange (forex) market. Forex symbols are typically structured with the first three letters representing the base currency (in this case, ZAR) and the last three representing the quote currency (CAD). Therefore, ZARCAD.FOREX represents the exchange rate between these two currencies and indicates how many Canadian Dollars are needed to purchase one South African Rand. Traders use this pair to speculate on the relative strength or weakness of the South African economy compared to the Canadian economy. The ".FOREX" suffix simply clarifies that it is a forex instrument.
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Factors

Economic data releases: South African and Canadian economic indicators, like GDP, inflation, and employment, drive currency valuations.

Interest rate differentials: The gap between South African and Canadian interest rates impacts capital flows and the relative attractiveness of each currency.

Commodity prices: As commodity-exporting nations, changes in global commodity prices, especially gold and oil, influence both ZAR and CAD.

Political stability: Political events and policy changes in South Africa and Canada can introduce uncertainty and affect investor sentiment, impacting currency values.

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