Analysis of recent loonie → rand forecasts for 2025. We collate forecasts from respected FX analysts together with the latest Canadian dollar to South African rand performance and trends.
Forecasts for CAD to ZAR
The recent trend in the CAD to ZAR exchange rate reflects a volatile landscape influenced by both commodity prices and broader global economic conditions. Analysts have noted that the Canadian dollar (CAD) has experienced a rally, largely underpinned by rising oil prices. Given Canada's position as a major oil exporter, the loonie's performance is closely linked to fluctuations in oil prices. Currently, oil prices are at 14-day lows near 64.13 USD, which is 4.9% lower than their three-month average of 67.43 USD. This recent decline indicates a challenging environment for the CAD, contributing to its recent trading near 12.89 ZAR, which is 1.7% below its three-month average of 13.11 ZAR.
The analysts suggest that if oil prices continue to recover, the CAD may regain strength. However, the volatile price movement in oil—having traded within a significant 24.7% range from 60.14 to 75.02 USD—indicates uncertainty around this recovery. As oil prices appreciate, they typically enhance the Canadian economy's revenues, thereby strengthening the CAD.
On the other hand, the South African rand (ZAR) faces its challenges, primarily due to external factors such as the effects of a 30% reciprocal tariff imposed by the U.S. and a reliance on foreign investment to address large budget and current account deficits. This susceptibility to global investor sentiment can add to downward pressure on the ZAR, creating further complexity in the CAD/ZAR exchange rate dynamics.
Given these ongoing factors—volatile oil prices, Canadian monetary policy decisions, and the challenging economic conditions in South Africa—forecasts for the CAD to ZAR rate remain cautious. Market watchers will want to monitor oil price trends and geopolitical developments closely, as they will play crucial roles in shaping the outlook for this currency pair in the near term.
Compare & Save - Canadian dollar to South African rand
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare
Canadian dollar (CAD) to South African rand (ZAR) rates from different sources before making a conversion.
Use our
CAD to ZAR calculator to see how much you could save on your international money transfers.
makes it easy to compare the Total Cost you are being charged on Loonie to Rand currency rates and the possible savings of using various providers.
Will the Canadian dollar rise against the South African rand?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add CAD/ZAR to your personalised Rate Tracker to track and benefit from currency movements.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more