The South African rand traded around 16.2 per US dollar, its highest since early July, mainly supported by firmer prices of key precious metals, particularly gold, which benefited from reduced expectations of Federal Reserve rate hikes. Meanwhile, investors monitored negotiations involving the US, Iran and Oman over the Strait of Hormuz amid persistent geopolitical tensions. The rand hit a three-month low against the dollar last month after the SARB unexpectedly held rates steady on July 23, despite warning of rising inflation risks.The currency had already been affected by elevated oil prices after the Iran conflict erupted, given South Africa's status as a net energy importer. Still, investors see longer-term support from a stronger economy, healthy public finances, and the central bank's commitment to its 3% inflation target. Headline and core inflation rose to 5.0% and 4.1% in June, respectively, remaining above the upper limit of the SARB's 3% ±1 percentage point target range.
The USD/ZAR exchange rate fell to 16.1272 on August 7, 2026, down 1.40% from the previous session. Over the past month, the South African Rand has strengthened 1.71%, and is up by 9.10% 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 August 8 of 2026.
The USD/ZAR exchange rate fell to 16.1272 on August 7, 2026, down 1.40% from the previous session. Over the past month, the South African Rand has strengthened 1.71%, and is up by 9.10% over the last 12 months. The South African Rand is expected to trade at 16.44 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 15.92 in 12 months time.