In 2013, the 2012 series was updated with the addition of the EURion constellation to all five denominations.47 They were entered into circulation on 6 November 2013. USD/ZAR once again failed to sustain a move above the 200-week simple moving average, a level that has capped rallies three times now. Sellers quickly regained control, driving the pair to its lowest levels of 2025. With the price slipping under the R17.50 zone, traders are eyeing R17.00 as the next key downside target. The technical breakdown reinforces the bearish continuation trend that has been in place since April, when the pair peaked just below R20. Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered.
Gold Prices Boost South Africa’s Currency
By the early 1980s, high inflation and mounting political pressure combined with sanctions placed against the country due to international opposition to the apartheid system had started to erode its value. The currency broke above parity with the dollar for the first time in March 1982. It continued to trade between R1 and R1.30 to the dollar until June 1984, when the currency’s depreciation gained momentum. By February 1985, it was trading at over R2 per dollar, and in July of that year, all foreign exchange trading was suspended for three days to try to stop the depreciation.
Coins were introduced in 1961 in denominations of 1⁄2, 1, 2+1⁄2, 5, 10, 20, and 50 cents. The 1 rand coin for circulation was introduced in 1967, followed by 2 rand coins in 1989 and 5 rand coins in 1994. Production of the 1 and 2-cent coins was discontinued in 2002, followed by 5-cent coins in 2012, primarily due to inflation having devalued them, but they remain legal tender.32333435 Shops normally round the total purchase price of goods to the nearest 10 cents. Despite hotter U.S. inflation data, the dollar struggled last week as jobless claims reached their highest levels since 2021.
- The currency and precious metals prices displayed on our site are aggregated from millions of data points and pass through proprietary algorithms in order to deliver timely and accurate prices to our users.
- To view rates between the US Dollar and the South African Rand for a particular year, click on one of the links below.
- By February 1985, it was trading at over R2 per dollar, and in July of that year, all foreign exchange trading was suspended for three days to try to stop the depreciation.
- Traders interpreted the labor market weakness as another reason for the Fed to ease policy.
- Production of the 1 and 2-cent coins was discontinued in 2002, followed by 5-cent coins in 2012, primarily due to inflation having devalued them, but they remain legal tender.32333435 Shops normally round the total purchase price of goods to the nearest 10 cents.
- It continued to trade between R1 and R1.30 to the dollar until June 1984, when the currency’s depreciation gained momentum.
USD to ZAR on 2025-9-8 – FAQs
While easing has been gradual, policymakers have only paused once this year, in March 2025, suggesting the central bank remains open to further cuts if economic conditions allow. Exchange-rates.org has been a leading provider of currency quotes and precious metal prices for nearly 20 years. We have been featured in some of the most prestigious financial publications in the world including Business Insider, Investopedia, Washington Post, and CoinDesk. Here’s a simple explanation of each factor affecting the Rand to Dollar exchange rate. All these factors work together to push the Rand Dollar exchange rate up or down.
Seventh series
The South African rand advanced strongly last week, breaking key levels as dollar weakness and rising gold prices reinforced bearish momentum in USD/ZAR, while this week the attention in on the FED and the SARB. We partner with leading data providers to bring you the latest and most accurate prices for all major currencies and precious metals. The currency and precious metals prices displayed on our site are aggregated from millions of data points and pass through proprietary algorithms in order to deliver timely and accurate prices to our users. In sterling terms, it fell from around 9.5% to just over 7%, losing some 25% of its international trade-weighted value in six months. In late 2007, the rand rallied modestly to just over 8%, only to experience a precipitous slide during the first quarter of 2008.
Brief exchange rate history
To view rates between the US Dollar and the South African Rand for a particular year, click on one of the links below.
By the end of 2002, the currency was trading under R9 to the dollar again, and by the end of 2004, it was trading under R5.70. The currency softened somewhat in 2005, trading around R6.35 to the dollar at the end of the year. At the start of 2006, however, the currency resumed its rally and, as of 19 January 2006, was trading under R6 to the dollar again. However, the rand weakened significantly during the second and third quarters of 2006 (i.e., April through September). Since September 2024, the SARB has lowered interest rates by 125 basis points, bringing the repo rate down from 8.25% to 7.00%.
On 11 February 2012, aviator game pin up President Jacob Zuma announced that the country would be issuing a new set of banknotes bearing Nelson Mandela’s image.4445 They were entered into circulation on 6 November 2012.46 These contained the same denominations of 10, 20, 50, 100, and 200 rand. The 1978 series began with denominations of 2, 5, 10, and 20 rand, with a 50 rand introduced in 1984. Afrikaans was the first language on the 2, 10, and 50 rand, while English was the first on the 5 and 20 rand. Adding further support to the rand is South Africa’s improving external position. Gross foreign exchange reserves climbed to a record $70.42 billion in August, up from $69.16 billion in July.
Coins
As it became clear in the early 1990s that the country was destined for Black majority rule and one reform after the other was announced, uncertainty about the country’s future hastened the depreciation until the level of R3 to the dollar was breached in November 1992. The controversial land reform programme that was initiated in Zimbabwe, followed by the September 11, 2001 attacks, propelled it to its weakest historical level of R13.84 to the dollar in December 2001. By the time that State President P. W. Botha made his Rubicon speech on 15 August 1985, it had weakened to R2.40 per dollar. The currency recovered somewhat between 1986 and 1988, trading near the R2 level most of the time and breaking beneath it sporadically. The recovery was short-lived; by the end of 1989, the rand was trading at more than R2.50 per dollar. This sudden depreciation in 2001 led to a formal investigation and a dramatic recovery.
- The South African rand advanced strongly last week, breaking key levels as dollar weakness and rising gold prices reinforced bearish momentum in USD/ZAR, while this week the attention in on the FED and the SARB.
- Here’s a simple explanation of each factor affecting the Rand to Dollar exchange rate.
- While easing has been gradual, policymakers have only paused once this year, in March 2025, suggesting the central bank remains open to further cuts if economic conditions allow.
- The 1978 series began with denominations of 2, 5, 10, and 20 rand, with a 50 rand introduced in 1984.
Traders interpreted the labor market weakness as another reason for the Fed to ease policy. Chair Jerome Powell’s September remarks about potential rate cuts fueled expectations, knocking the dollar nearly 1% lower against a basket of major currencies. This weakness, combined with stronger commodity demand, further amplified rand buying. It moves based on factors like economic news, interest rates, trade, and global events.
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The obverses of all denominations were printed in English, while two other official languages were printed on the reverse, thus using all 11 official languages of South Africa. As one of the world’s largest gold producers, South Africa benefits directly when bullion rises. The rally was fueled by global demand for safe-haven assets and disappointing U.S. payrolls data. The stronger gold backdrop coincided with the USD/ZAR break below R17.50, cementing the bearish momentum in the pair.
Because these factors keep shifting, the rate can go up or down throughout the day and from one day to the next. This constant change is why the exchange rate you see today might be different tomorrow. On 3 May 2023, the South African Reserve Bank announced that a new series of banknotes would retain the image of Nelson Mandela on the obverse while showing the Big 5 in a family depiction on the reverse.37 This series contains the same denominations of 10, 20, 50, 100, and 200 rand.
The increase was fueled by higher foreign currency holdings ($50.16 billion), a rise in gold reserves ($13.76 billion), and stronger Special Drawing Rights allocations ($6.50 billion). These buffers enhance the country’s financial stability and give the rand an additional layer of support against global market volatility. The 2005 series has the same principal design but with additional security features, such as colour-shifting ink on the 50 rand and higher and the EURion constellation.