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.
The USD/ZAR exchange rate fell to 15.8514 on February 11, 2026, down 0.47% from the previous session. Over the past month, the South African Rand has strengthened 3.25%, and is up by 14.43% 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 February 11 of 2026.
The USD/ZAR exchange rate fell to 15.8514 on February 11, 2026, down 0.47% from the previous session. Over the past month, the South African Rand has strengthened 3.25%, and is up by 14.43% over the last 12 months. The South African Rand is expected to trade at 15.95 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 15.51 in 12 months time.