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South Africa Macro Chart Suite

Explore and download analytical charts in the tabs below. All charts update live.

The Rand Sentiment IndexZSI Bands

The ZSI tracks hedging activity in the market using data on FX derivatives pricing. It is a gauge of demand for negative or positive rand hedging among the most influential market participants. 

Rand Sentiment v RandRand Sentiment v Rand

The ZSI tends to lead the y/y change in the dollar/rand exchange rate by around 9 months such that positive rand sentiment (0.25 to 0.50) tends to be associated with subsequent rand appreciation of around 20% y/y, while negative rand sentiment (-0.25 to -0.50) tends to be associated with subsequent rand depreciation of around 20% y/y.

Money Supply (updated: 30-03-2017)