Exotic pair
USD/ZAR: volatility, trading hours and correlation
The US dollar against the South African rand. USD/ZAR has averaged 1645 pips a day over the last 90 days, with recent volatility close to its one-year norm. It tends to move most between 12:00 and 15:00 UTC.
- Last close
- 16.47274 16 October 2026
- Avg daily range
- 1645 pips 90 days · 1.00% of price
- 1-year change
- -4.94% USD weaker vs ZAR
- 52-week range
- 15.63954 – 17.57698 Low to high
USD/ZAR over the last 12 months
Daily closes
When USD/ZAR moves most
Average high-to-low range for each hour of the day over the last year, in pips (UTC). The busiest three-hour window is highlighted. 21:00–23:00 UTC includes the daily rollover, when spreads widen and bid prices dip, so those hours are left out of it.
Want these hours in your own time zone? Open forex market hours. To compare USD/ZAR with other pairs, read the most volatile hours in forex.
Average range by weekday
Pips, last 12 months. Thursday is typically busiest and Monday quietest.
Calendar-year performance
% change in USD/ZAR each year, latest year to date
USD/ZAR seasonality
Average % change by calendar month across the last 9 years. April has been the strongest month on average and December the weakest. Seasonality is a tendency, not a forecast.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg change | -0.32% | +1.73% | +0.57% | +1.98% | -0.59% | +0.24% | 0.00% | +1.95% | +0.34% | +0.96% | -1.83% | -2.02% |
| Years up | 44% | 44% | 44% | 56% | 33% | 33% | 67% | 44% | 44% | 56% | 33% | 33% |
USD/ZAR correlation
Correlation of daily returns with other pairs. +1 means they move together, −1 means they move in opposite directions. How to use correlation.
Biggest daily moves in the last year
The five widest high-to-low days for USD/ZAR.
| Date | Range | Open to close | × normal day |
|---|---|---|---|
| 3 March 2026 | 7129 pips | +2.92% | 3.8× |
| 9 March 2026 | 6465 pips | -2.42% | 3.4× |
| 23 March 2026 | 5784 pips | -1.39% | 3.1× |
| 8 April 2026 | 5338 pips | -2.58% | 2.8× |
| 23 July 2026 | 5178 pips | +2.56% | 2.7× |
USD/ZAR pip value
Value of a one-pip move (0.0001) at the latest price.
| Account currency | Standard lot (1.00) | Mini lot (0.10) | Micro lot (0.01) |
|---|---|---|---|
 USD | 0.61 USD | 0.06 USD | 0.006 USD |
 EUR | 0.54 EUR | 0.05 EUR | 0.005 EUR |
 GBP | 0.46 GBP | 0.05 GBP | 0.005 GBP |
 ZAR | 10.00 ZAR | 1.00 ZAR | 0.100 ZAR |
About USD/ZAR
USD/ZAR shows how many South African rands (ZAR) it takes to buy one US dollar (USD). When the price rises, the US dollar is strengthening against the South African rand.
USD is issued by the Federal Reserve. It tends to respond to Federal Reserve rate expectations, US jobs and inflation data, and global risk appetite, since the dollar is the world’s main reserve and funding currency.
ZAR is issued by the South African Reserve Bank. It tends to respond to South African Reserve Bank policy, gold and platinum prices, domestic politics and appetite for emerging-market risk.
With an average range of about 1645 pips a day, a stop loss of 493–987 pips is roughly a third to two-thirds of a normal day for USD/ZAR. Always size your position from the stop distance with the lot size calculator.
USD/ZAR FAQ
What is the average daily range of USD/ZAR?
Over the last 90 days USD/ZAR moved an average of 1645 pips from high to low each day, about 1.00% of its price. Over the past year the average was 1895 pips, and over the last 20 trading days it was 1752 pips.
What is the best time to trade USD/ZAR?
In the past year USD/ZAR was most active between 12:00 and 15:00 UTC, and the London session produced the largest average range (1401 pips). The quietest hour was 04:00 UTC. Thursday was its busiest weekday on average.
What is USD/ZAR most correlated with?
Based on daily returns over the last year, USD/ZAR moved most closely with USD/MXN (correlation 0.75) and most inversely with AUD/USD (-0.74).
How much is one pip worth on USD/ZAR?
One pip on USD/ZAR is 0.0001 of the price. For one standard lot (100,000 USD) that is 10 ZAR, or about $0.61 at the latest price. A mini lot is a tenth of that and a micro lot a hundredth.
Statistics are calculated by ForexSignals.io from Dukascopy hourly bid prices up to the 16 October 2026 close. Trading days run from 17:00 to 17:00 New York time, the same daily candles most MT4 and MT5 brokers show. Hourly figures cover the last 12 months, seasonality the last 9 full years. Data may contain errors and is not a trading recommendation.
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