FX.co ★ South African Rand Recovers Slightly

The South African rand strengthened to around 16.3 per USD, recovering from recent more than two-month lows of 16.6, as global risk aversion eased on expectations of a swift resolution to the conflict in Iran. President Trump signaled he was seeking a quick end to the war in Iran and suggested he might waive certain oil-related sanctions and implement other measures to keep oil prices in check. At the same time, traders focused on the latest domestic GDP data. The South African economy expanded by 0.4% in Q4 2025, up from 0.3% in the previous quarter and slightly above the 0.3% growth expected by analysts. For 2025 as a whole, growth accelerated to 1.1% from 0.5% in 2024, indicating a tentative recovery after years of disruption from load shedding, though still falling short of Treasury’s 1.4% and the Reserve Bank’s 1.3% projections.