Currency pair EURZAR shows a ratio of the common European currency to the South African Rand. Euro serves as the base currency, and national currency of the Republic of South Africa — quoted. The quotes of EURZAR trading instrument show how many rounds it is necessary to pay for the purchase of one euro. The pair doesn't enjoy wide popularity at traders because of US dollar absence in its structure.
The South African Rand which is considered commodity currency is a part of the EURZAR trading instrument. In the territory of the Republic of South Africa, there are the richest deposits of minerals thanks to what national economy is based on production and export of natural resources, including gold and diamonds.
In the territory of the Republic of South Africa, there is one of the largest stock exchanges in the world. The Republic of South Africa is engaged in export of cars and the equipment, thanks to the largest plants in Africa. The economic situation in the EU, a situation in the commodity market, and also the mechanical engineering industry product demand has an impact on the chart of an EURZAR currency pair.