The South African rand strengthened to 16.2 per US dollar, reaching its strongest level since early March, as investors shifted toward risk-sensitive assets following news that the US and Iran had reached a preliminary agreement to end their three-month conflict. The agreement, which includes lifting the US blockade and reopening the Strait of Hormuz, is scheduled to be signed in Switzerland on Friday. However, markets remain cautious as further details are awaited and uncertainty persists over the future of Iran’s nuclear program. The sharp decline in oil prices has also supported sentiment by easing inflationary pressures and reducing expectations of additional interest rate increases. In its latest Financial Stability Review, the South African Reserve Bank (SARB) noted that a prolonged conflict could have justified another rate hike later this year. On May 28, the central bank raised its benchmark interest rate by 25 basis points to 7%, marking its first increase in three years.

The USD/ZAR exchange rate rose to 16.1841 on June 17, 2026, up 0.12% from the previous session. Over the past month, the South African Rand has strengthened 2.31%, and is up by 9.97% 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 June 17 of 2026.

The USD/ZAR exchange rate rose to 16.1841 on June 17, 2026, up 0.12% from the previous session. Over the past month, the South African Rand has strengthened 2.31%, and is up by 9.97% over the last 12 months. The South African Rand is expected to trade at 16.25 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 15.67 in 12 months time.



Crosses Price Day Year Date
USDZAR 16.1829 0.0184 0.11% -9.98% Jun/17
EURZAR 18.7927 0.0011 0.01% -9.00% Jun/17
AUDZAR 11.4372 0.0134 0.12% -2.25% Jun/17
NZDZAR 9.4374 -0.0031 -0.03% -12.90% Jun/17
ZARCNY 0.4173 0.0001 0.02% 4.55% Jun/17
ZARCHF 0.0490 0.000004 0.01% 8.05% Jun/17
ZARCAD 0.0865 0.00002 0.03% 13.88% Jun/17
ZARMXN 1.0630 0.0001 0.01% 0.77% Jun/17
GBPZAR 21.7048 -0.0237 -0.11% -10.22% Jun/16
ZARJPY 9.9141 0.0164 0.17% 22.97% Jun/16
ZARINR 5.8427 0.0087 0.15% 20.99% Jun/16
ZARBRL 0.3142 0.0006 0.20% 1.88% Jun/16
ZARRUB 4.5265 0.0539 1.21% 2.53% Jun/16
ZARKRW 93.2863 -0.1539 -0.16% 22.21% Jun/16
ZARIDR 1,096.6601 4.2818 0.39% 19.93% Jun/16
ZARARS 88.7218 0.4728 0.54% 33.61% Jun/16
ZARCZK 1.2858 -0.0007 -0.05% 6.63% Jun/16
ZARDKK 0.3980 -0.0001 -0.03% 9.87% Jun/16
ZARHUF 18.5828 -0.0949 -0.51% -4.94% Jun/16
 Currencies
 ZAR...
 ...ZAR



Related Last Previous Unit Reference
United States Inflation Rate 4.20 3.80 percent May 2026
South Africa Inflation Rate 4.00 3.10 percent Apr 2026
United States Fed Funds Interest Rate 3.75 3.75 percent May 2026
South Africa Interest Rate 7.00 6.75 percent May 2026
United States Unemployment Rate 4.30 4.30 percent May 2026
South Africa Unemployment Rate 32.70 31.40 percent Mar 2026

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
16.18 16.16 19.93 2.71 1992 - 2026 Daily

News Stream
South African Rand Climbs to Three-Month High
The South African rand strengthened to 16.2 per US dollar, reaching its strongest level since early March, as investors shifted toward risk-sensitive assets following news that the US and Iran had reached a preliminary agreement to end their three-month conflict. The agreement, which includes lifting the US blockade and reopening the Strait of Hormuz, is scheduled to be signed in Switzerland on Friday. However, markets remain cautious as further details are awaited and uncertainty persists over the future of Iran’s nuclear program. The sharp decline in oil prices has also supported sentiment by easing inflationary pressures and reducing expectations of additional interest rate increases. In its latest Financial Stability Review, the South African Reserve Bank (SARB) noted that a prolonged conflict could have justified another rate hike later this year. On May 28, the central bank raised its benchmark interest rate by 25 basis points to 7%, marking its first increase in three years.
2026-06-15
South African Rand at Over 1-Week High
The South African rand traded around 16.3 per USD, near the highest since early June, as hopes for a imminent US-Iran deal boosted risk appetite. President Donald Trump called off planned strikes on Iran on Thursday while indicating that a peace agreement could be finalized as early as this weekend. Oil prices retreated, as investors priced in easing risks to energy supplies and inflation. Still, uncertainty remains elevated. Meanwhile, the South African Reserve Bank (SARB) noted in its June Financial Stability Review that borrowing costs may rise again later this year, as escalating tensions in the Middle East reshape the inflation outlook and heighten risks to financial stability. Investors are now focused on domestic inflation data for May, due June 17, which could offer clearer signals on inflation pressures and the central bank’s policy path.
2026-06-12
South African Rand Subdued
The South African rand hovered around 16.5 per USD, near the lowest since mid-May, pressured by falling prices of key precious metals, particularly gold and PGMs. Markets turned cautious as Middle East tensions flared again with US–Iran strikes, while President Trump’s remarks unsettled a fragile ceasefire and clouded hopes for a broader peace deal. Meanwhile, the South African Reserve Bank (SARB) noted in its Financial Stability Review that the oil price shock could prolong inflationary pressures, increasing the likelihood of further tightening. It added that its quarterly projection model now suggests another rate hike in 2026 following the 25-basis-point increase on May 28. The central bank raised the key repo rate by 25 bps to 7.0%, the first hike in three years, in a defensive response to mounting inflationary pressures stemming from the Middle East conflict.
2026-06-10