The South African Rand weakened from R15.84 to R17.25 against the U.S. Dollar following the war in Iran and related factors.
Between April 2025 and February 2026, the local currency had a strong run driven by global and domestic factors.
The country saw a re-rating of its investor climate, with its removal from the greylist, a one-notch lift in S&P’s credit rating, and a positive outlook.
Sam Busa