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Rand

The rand is the official currency of South Africa, issued by the South African Reserve Bank. Its ISO code is ZAR and its symbol is R. The rand is subdivided into 100 cents and has been in circulation since 1961, when it replaced the South African pound following the country's transition to a republic. The currency is free-floating, with its exchange rate determined by market forces, and it is one of the most actively traded emerging-market currencies globally. The rand serves as legal tender not only in South Africa but also in the Common Monetary Area, which includes Eswatini, Lesotho and Namibia, where it circulates alongside or underpins local currencies. Its value is closely tied to South Africa's commodity exports, particularly gold, platinum and other minerals, making it sensitive to global commodity price fluctuations and investor sentiment towards emerging markets. The rand's performance is also influenced by domestic factors including monetary policy decisions, inflation, political stability and economic growth. Since its introduction, the currency has experienced several periods of significant volatility, including sharp depreciation during times of political uncertainty and global financial stress. The rand is widely used in regional trade within southern Africa and remains a key indicator of South Africa's economic health. Its movements are closely watched by investors, mining companies and businesses with exposure to the South African economy.

Rand Updates


An image of a petrol station
Petrol prices to increase, but some relief for diesel prices
1st June 2026 By: Tasneem Bulbulia

The prices of petrol 93 and 95 (ULP and LRP) are both set to increase by R1.43 a litre, effective June 3, while diesel prices are set to decrease by R3.25 a litre (0.05% sulphur) and R2.62 a litre... 


An image of BLSA CEO Busi Mavuso
South Africa must continue to pursue reform programme to maintain stability – BLSA
1st June 2026 By: Tasneem Bulbulia

The decision by the South African Reserve Bank (SARB) last week to hike interest rates by 25 basis points in response to rising global inflation is the correct call, business organisation Business... 


Red flags to note when commercial hedgers, large speculators diverge on gold
Red flags to note when commercial hedgers, large speculators diverge on gold
28th May 2026

Gold can look simple on the chart, but the positioning behind it often tells a more complicated story. South African traders know this well because gold is not just another global asset. It can... 


An image of a Stacker reclaimer cabin
S Africa is key for German expansion in Africa
22nd May 2026 By: Nadine Ramdass

German investment in South Africa is likely to continue as German companies target new markets and long-term opportunities, leveraging the country as an entry point into the African market, says... 


Harmony reports strong third-quarter results, on track to meet full-year guidance
Harmony reports strong third-quarter results, on track to meet full-year guidance
18th May 2026 By: Sabrina Jardim

JSE-listed Harmony Gold has delivered a solid operating performance for the nine months to March 31, reflecting an excellent third quarter with improvements across all key operational metrics. In... 


Sappi CEO Steve Binnie
Lower prices, stronger rand contribute to a widened second-quarter loss for Sappi
7th May 2026 By: Schalk Burger

JSE-listed woodfibre-based products company Sappi posted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $52-million for the quarter ended March 31 – the second quarter... 


Implats' Styldrift platinum group metals mine.
Implats reports robust PGM demand, beneficial pricing
24th April 2026 By: Martin Creamer

Despite elevated global geopolitical tensions, robust demand for platinum group metals (PGMs) has been accompanied by sustained beneficial pricing support in the three months ending March 31,... 


Rand currency
South African rand weakens as US-Iran blockade threat drives oil above $100
13th April 2026 By: Reuters

South Africa's rand weakened on Monday as investors reacted to a US-Iran standoff that threatened oil flows through the Strait of Hormuz, pushing crude prices back above $100 a barrel and lifting... 


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