The South African rand depreciated toward 16.2 per USD, the lowest in nearly a month, as escalating Middle East tensions fueled economic uncertainty and reduced appetite for riskier assets, including emerging market currencies. Moreover, concerns over prolonged disruptions to oil flows in the Middle East heightened inflation fears, prompting investors to scale back expectations for interest rate cuts by major central banks. On the domestic front, South Africa's economy continued to experience favorable developments. Finance Minister Enoch Godongwana unveiled a budget last week showing the debt-to-GDP ratio stabilizing for the first time in nearly two decades, alongside a slightly lower fiscal deficit than previously forecast. The improvement, largely supported by a commodity boom boosting mining profits, allowed room for tax relief and higher infrastructure spending.

The USD/ZAR exchange rate rose to 16.1040 on March 2, 2026, up 1.13% from the previous session. Over the past month, the South African Rand has weakened 0.90%, but it's up by 13.30% over the last 12 months. Historically, the USDZAR reached an all time high of 19.93 in April of 2025. South African Rand - data, forecasts, historical chart - was last updated on March 2 of 2026.

The USD/ZAR exchange rate rose to 16.1040 on March 2, 2026, up 1.13% from the previous session. Over the past month, the South African Rand has weakened 0.90%, but it's up by 13.30% over the last 12 months. The South African Rand is expected to trade at 16.12 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 15.63 in 12 months time.



Crosses Price Day Year Date
USDZAR 16.0868 0.1634 1.03% -13.39% Mar/02
EURZAR 18.7915 -0.0356 -0.19% -3.71% Mar/02
GBPZAR 21.5501 0.0803 0.37% -8.16% Mar/02
AUDZAR 11.3955 0.0925 0.82% -1.45% Mar/02
NZDZAR 9.5670 0.0161 0.17% -8.43% Mar/02
ZARJPY 9.7766 -0.0241 -0.25% 21.14% Mar/02
ZARCNY 0.4286 -0.0024 -0.55% 9.64% Mar/02
ZARCHF 0.0484 0.0001 0.12% 0.03% Mar/02
ZARCAD 0.0849 -0.0007 -0.84% 9.59% Mar/02
ZARMXN 1.0757 -0.0066 -0.61% -2.32% Mar/02
ZARINR 5.7159 0.0041 0.07% 20.57% Feb/27
ZARBRL 0.3220 -0.0005 -0.16% 1.54% Feb/27
ZARRUB 4.8518 0.0263 0.54% 1.92% Feb/27
ZARKRW 90.4460 0.5203 0.58% 14.84% Feb/27
ZARIDR 1,054.2686 2.2119 0.21% 17.28% Feb/27
ZARARS 87.6628 -0.7432 -0.84% 52.06% Feb/27
ZARCZK 1.2876 -0.0024 -0.19% -1.33% Feb/27
ZARDKK 0.3969 -0.0006 -0.15% 1.95% Feb/27
ZARHUF 20.0183 0.0056 0.03% -4.29% Feb/27
 Currencies
 ZAR...
 ...ZAR



Related Last Previous Unit Reference
United States Inflation Rate 2.40 2.70 percent Jan 2026
South Africa Inflation Rate 3.50 3.60 percent Jan 2026
South Africa Interest Rate 6.75 6.75 percent Jan 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Jan 2026
United States Unemployment Rate 4.30 4.40 percent Jan 2026
South Africa Unemployment Rate 31.40 31.90 percent Dec 2025

South African Rand
The USDZAR spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the ZAR. While the USDZAR spot exchange rate is quoted and exchanged in the same day, the USDZAR forward rate is quoted today but for delivery and payment on a specific future date.
Actual Previous Highest Lowest Dates Unit Frequency
16.10 15.92 19.93 2.71 1992 - 2026 Daily

News Stream
South African Rand at Near 1-Month Low
The South African rand depreciated toward 16.2 per USD, the lowest in nearly a month, as escalating Middle East tensions fueled economic uncertainty and reduced appetite for riskier assets, including emerging market currencies. Moreover, concerns over prolonged disruptions to oil flows in the Middle East heightened inflation fears, prompting investors to scale back expectations for interest rate cuts by major central banks. On the domestic front, South Africa's economy continued to experience favorable developments. Finance Minister Enoch Godongwana unveiled a budget last week showing the debt-to-GDP ratio stabilizing for the first time in nearly two decades, alongside a slightly lower fiscal deficit than previously forecast. The improvement, largely supported by a commodity boom boosting mining profits, allowed room for tax relief and higher infrastructure spending.
2026-03-02
South African Rand Strengthens after Budget
South African rand rose to trade below 16 per USD, holding near its strongest level since 2022, after the government signaled that public debt is set to peak this fiscal year. Finance Minister Enoch Godongwana told lawmakers that debt will stabilize for the first time in 17 years as the budget deficit narrows and debt service costs ease, pointing to a recent credit rating upgrade and a bond market rally. The 2026 Budget Review projects the debt to GDP ratio peaking at 78.9% in 2025 to 2026, slightly above prior estimates due to weaker nominal growth and higher borrowing, though debt payments as a share of revenue are seen falling to 20.2% by 2028 to 2029. Expectations that Fitch Ratings and Moody's Ratings could shift their outlook to positive, alongside strong precious metals prices and political stability, further supported the currency.
2026-02-25
South African Rand Strengthens on Budget Optimism
The South African rand rose slightly to trade just below 16 per USD, holding close to the highest since 2022, as investors looked ahead to the 2026 national budget, to be tabled later this week by Finance Minister Enoch Godongwana. Optimism prevailed ahead of a statement expected to show continued fiscal consolidation, with a faster pace of deficit reduction, a widening primary surplus and stabilizing public debt amid relatively favorable economic conditions. Moreover, a market-friendly budget is widely seen as paving the way for improvements in the country's sovereign credit-rating outlook. The rand has been bolstered by soaring precious-metals prices, ongoing reforms and signs of an economic recovery. Months of political stability have further strengthened investor confidence in the country.
2026-02-24