FX.co ★ South African Rand at 4-Month Lows

The South African rand extended its decline to 17.2 per USD, its weakest level since November 2025, as escalating geopolitical tensions between the United States and Iran fueled risk-off sentiment in global markets. At the same time, key precious metals—most notably gold—retreated, stripping the rand of a traditional source of support. The currency is expected to remain under pressure amid concerns that persistently high oil prices could drive inflation higher in energy-importing South Africa.