28/01/2026
Breaking news
Rand strengthens past R16 on global shift away from US dollar
South African rand has strengthened sharply, breaking below the psychologically important R16 to the US dollar mark to trade at its strongest level in almost four years, as a broad global retreat from the greenback lifts emerging-market currencies.
The rand gained about 2.7% over the past week, buoyed by increased investor appetite for riskier assets and South Africa’s strong link to gold, which has surged amid global uncertainty.
The currency’s rally comes against the backdrop of a pronounced weakening in the US dollar, which is trading near multi-year lows.
Analysts attribute the dollar’s decline to growing political and policy uncertainty in the United States, concerns about fiscal discipline, and expectations that the Federal Reserve will continue cutting interest rates, eroding the yield advantage that has long supported the greenback
