Rand goes from zero to hero in a year
The rand has hit its strongest levels in three years, pushing toward R16.30/$ from over R19.00/$ a year ago. And investors think things will get better still.
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The rand has hit its strongest levels in three years, pushing toward R16.30/$ from over R19.00/$ a year ago. And investors think things will get better still.
And rand climbs to its strongest level since August 2022.
The rand has marked one of its best years in recent memory in 2025, with economists expecting the good time to keep rolling in the new year.
The rand’s show of resilience this year has not been a fluke, with the unit not only gaining against the dollar but other major currencies as well.
The South African rand is far weaker than it should be, with its fair value potentially as low as R11.30 to the US dollar.
The rand hit recent highs against the US dollar on Monday (15 September) as prospects for interest rate cuts in the United States sent investors pouring into emerging market bonds.
South Africa’s rand has flipped the script and emerged much stronger than anyone expected in 2025, but it’s still being blocked from reaching its full potential.