The South African rand has traded around 16.5 per USD since April, amid a resilient US dollar and heightened volatility in key precious metals, particularly gold and PGMs. This has been largely attributed to the Middle East conflict, which has contributed to increased global uncertainty and reinforced safe-haven demand for the greenback. Meanwhile, progress in US–Iran negotiations triggered a sharp decline in oil prices, helping to ease inflationary pressures. While this improves South Africa’s inflation outlook, SARB Governor Lesetja Kganyago has warned that further rate hikes remain possible. He said that the US–Iran deal still leaves considerable uncertainty, noting that oil prices are unlikely to return to pre-conflict levels soon and that higher fertilizer costs could spill over into food prices during the harvest in the second half of the year. Attention now shifts to the upcoming release of Q2 inflation expectations to gauge the extent of inflationary pressures in the economy.

The USD/ZAR exchange rate fell to 16.4058 on June 26, 2026, down 0.44% from the previous session. Over the past month, the South African Rand has weakened 0.32%, but it's up by 7.82% 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 28 of 2026.

The USD/ZAR exchange rate fell to 16.4058 on June 26, 2026, down 0.44% from the previous session. Over the past month, the South African Rand has weakened 0.32%, but it's up by 7.82% over the last 12 months. The South African Rand is expected to trade at 16.37 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 15.78 in 12 months time.



Crosses Price Day Year Date
USDZAR 16.4058 -0.0725 -0.44% -7.82% Jun/26
EURZAR 18.7436 0.0104 0.06% -10.14% Jun/26
GBPZAR 21.7509 0.0128 0.06% -11.11% Jun/26
AUDZAR 11.3121 -0.0742 -0.65% -2.62% Jun/26
NZDZAR 9.2806 -0.0263 -0.28% -13.82% Jun/26
ZARJPY 9.8157 -0.0026 -0.03% 20.79% Jun/26
ZARCNY 0.4130 0.0003 0.06% 2.49% Jun/26
ZARCHF 0.0490 -0.0002 -0.37% 9.25% Jun/26
ZARCAD 0.0861 -0.0001 -0.07% 12.05% Jun/26
ZARMXN 1.0522 -0.0100 -0.94% -0.48% Jun/26
ZARINR 5.7258 -0.0164 -0.29% 19.19% Jun/26
ZARBRL 0.3140 -0.0012 -0.38% 2.00% Jun/26
ZARRUB 4.7888 0.1851 4.02% 8.42% Jun/26
ZARKRW 93.1679 -0.5869 -0.63% 22.33% Jun/26
ZARIDR 1,083.2868 -7.2383 -0.66% 19.20% Jun/26
ZARARS 89.7115 0.0616 0.07% 34.62% Jun/26
ZARCZK 1.2897 -0.0052 -0.40% 8.69% Jun/26
ZARDKK 0.3985 -0.0005 -0.12% 11.36% Jun/26
ZARHUF 18.7883 -0.1371 -0.72% -1.96% Jun/26
 Currencies
 ZAR...
 ...ZAR



Related Last Previous Unit Reference
United States Inflation Rate 4.20 3.80 percent May 2026
South Africa Inflation Rate 4.50 4.00 percent May 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Jun 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
16.41 16.48 19.93 2.71 1992 - 2026 Daily

News Stream
South African Rand Hovers Around 16.5 per USD
The South African rand has traded around 16.5 per USD since April, amid a resilient US dollar and heightened volatility in key precious metals, particularly gold and PGMs. This has been largely attributed to the Middle East conflict, which has contributed to increased global uncertainty and reinforced safe-haven demand for the greenback. Meanwhile, progress in US–Iran negotiations triggered a sharp decline in oil prices, helping to ease inflationary pressures. While this improves South Africa’s inflation outlook, SARB Governor Lesetja Kganyago has warned that further rate hikes remain possible. He said that the US–Iran deal still leaves considerable uncertainty, noting that oil prices are unlikely to return to pre-conflict levels soon and that higher fertilizer costs could spill over into food prices during the harvest in the second half of the year. Attention now shifts to the upcoming release of Q2 inflation expectations to gauge the extent of inflationary pressures in the economy.
2026-06-26
South African Rand at Over 1-Month Low
The South African rand traded around 16.6 per USD, the lowest level since May 19, pressured by a firmer dollar and falling prices of key precious metals, particularly gold and PGMs. Investors sought the safety of the greenback amid volatility sparked by a tech stock selloff and rising expectations of Federal Reserve rate hikes, while a US–Iran peace agreement eased inflation concerns. On the domestic front, South African Reserve Bank Governor Lesetja Kganyago said policymakers are seeing early signs of second-round inflation effects and emphasized the need to act. Kganyago clarified the central bank’s May rate hike of 25 basis points to 7% was taken without updated inflation expectations, noting that they are now available and have drifted away from the target. He noted that the US-Iran deal still left considerable uncertainty, adding that while oil flows have resumed, prices are unlikely to fall back to pre-conflict levels soon.
2026-06-24
South African Rand Hovers Around 3-Month High
The South African rand traded around 16.2 per USD, holding close to the highest since early March, as traders weighed the latest inflation data while also eyeing the Fed's policy outcome and an anticipated formal signing of the US-Iran peace agreement. Headline inflation rose to 4.5% in May, the steepest since July 2024, accelerating further from 4% in April, though below the expected 4.7%. Core inflation also quickened to 3.8% from 3.6%, suggesting that underlying price pressures remain relatively contained. The SARB increased rates in May, on expectations that inflation would rise as second-round effects of the Iran war and the energy crisis filtered through the economy. Meanwhile, the interim US-Iran deal to reopen the Strait of Hormuz is seen as reducing pressure on policymakers to adjust rates at the July 23 meeting. The sharp decline in oil prices following the announcement has eased inflationary pressures and shifted rate expectations from two hikes to only one by year-end.
2026-06-17