South African Rand Firmer

2026-02-11 10:37 By Luisa Carvalho 1 min. read

The South African rand traded around 15.8 per USD, near the highest level since June 2020, buoyed by elevated precious metals prices and a softer US dollar.

Gold, platinum, and palladium together account for roughly 20% of the country’s exports.

At the same time, the currency continued to be supported by positive domestic developments, including structural reforms, fiscal consolidation, credible monetary policy, and a stable governing coalition.

Nearly half of the reforms under Operation Vulindlela, aimed at tackling energy and freight constraints, are on track and should help boost growth this year and next.

For the past decade, South Africa’s economy has struggled to grow more than 1% per year, held back by corruption and decaying infrastructure.

Fiscal governance is also strengthening, aided by higher commodity prices and improved collections.

Meanwhile, the central bank kept its repo rate steady at 6.75% in January, signaling confidence in achieving the new inflation target.



News Stream
South African Rand Firmer
The South African rand traded around 15.8 per USD, near the highest level since June 2020, buoyed by elevated precious metals prices and a softer US dollar. Gold, platinum, and palladium together account for roughly 20% of the country’s exports. At the same time, the currency continued to be supported by positive domestic developments, including structural reforms, fiscal consolidation, credible monetary policy, and a stable governing coalition. Nearly half of the reforms under Operation Vulindlela, aimed at tackling energy and freight constraints, are on track and should help boost growth this year and next. For the past decade, South Africa’s economy has struggled to grow more than 1% per year, held back by corruption and decaying infrastructure. Fiscal governance is also strengthening, aided by higher commodity prices and improved collections. Meanwhile, the central bank kept its repo rate steady at 6.75% in January, signaling confidence in achieving the new inflation target.
2026-02-11
South African Rand Strengthens
The South African rand firmed to around 15.9 per USD, the highest since January 29, founding support on higher precious metal prices and a softer dollar. Gold, a key export for South Africa, climbed above $5,000 an ounce, boosting demand for commodity-linked currencies. The rand has experienced heightened volatility recently, driven by sharp swings in precious-metal prices amid geopolitical risks and speculative activity. Meanwhile, positive domestic developments remain supportive. The South African Reserve Bank held the repo rate steady at 6.75%, supporting confidence in the new 3% inflation target. Investor sentiment was further strengthened by the perceived stability of the coalition government (GNU) and ongoing reforms in energy and logistics.
2026-02-09
South African Rand Firms
The South African rand strengthened to around 16.1 per USD, bouncing back from recent over two-week lows of 16.3, bolstered by the rebound in prices of key precious metals, particularly gold. The rand has experienced heightened volatility recently, driven by sharp swings in precious-metal prices, underscoring South Africa’s strong dependence on commodity exports. Gold, platinum, and palladium together account for roughly 20% of the country’s exports. Meanwhile, the currency continued to be supported by positive domestic developments, including structural reforms, fiscal consolidation, credible monetary policy, and a stable governing coalition. Investors are now eyeing next week’s mining and industrial production data for insight into the economy’s health.
2026-02-06