The USDZAR pairing represents two important global currencies; the US dollar and the South African rand. It is one of the most popular exotic currencies in the Forex market, and its performance is highly dependent on the correlation of the two economies. South Africa is a major economic power in Africa that relies heavily on foreign trade. The South African Rand, therefore, represents an emerging market that can be impacted greatly by developments in global commodities markets. The USD is one of the most stable forex currencies and remains as the world's primary reserve currency. The USD/ZAR is a preferred carry trade pair due to its interest rate differentials.