💨 Abstract

The South African rand has reached its strongest level against the US dollar in over three years, with a 14% gain in 2025 and continued strength into the new year. This rally is driven by high precious metal prices, improved investor sentiment, and economic reforms validated by a credit-rating upgrade. The rand's strength is supported by low volatility, strong fundamentals, and favorable global conditions, particularly expectations of US Federal Reserve interest-rate cuts.

Courtesy: Garrin Lambley