The commodity-linked rand strengthened on Monday morning, touching R15.99/US$ thanks to record gold prices, while traders awaited the central bank’s first rate-setting meeting this year. The rand briefly moved stronger than the R16 mark at 10.40am SAST. It then retreated slightly and was last quoted at 11.24am at R16.03/$. These are the currency’s strongest levels…
The rand ended 2025 nearly 13% stronger against the US dollar, marking its biggest annual gain in 16 years as the greenback weakened broadly. The risk-sensitive currency posted its first yearly rise against the dollar since 2019 and its largest increase since 2009, supported by South Africa’s improved fiscal performance, success in containing inflation and…
The rand gained further ground on Monday, supported by higher gold prices as local investors look towards the year’s last bit of economic data for clues on the health of South Africa’s economy. Shortly after 2pm, the currency was trading at R16.78/US$, continuing a firming trend that started in April. The rand is now at…
South Africa has a new rand-pegged stablecoin. Called ZAR Supercoin, the stablecoin is “purpose-built for South Africa and the wider African market”, according to its backer, New York-listed Super Group. ZAR Supercoin is the second rand-based stablecoin to be launched after ZARP, which was developed by Inves Capital. ZAR Supercoin’s backer is a company called…
The rand and South African shares and bonds extended their rally on Thursday as investors cheered signs of fiscal discipline after the government’s medium-term budget policy statement. The rand briefly broke below the key R17/US$ level for the first time since February 2023 to touch R16.95 — its strongest in more than two years. The…
OpenAI is hoping to expand its reach in Africa with the launch of ChatGPT Go, a new subscription tier aimed at making its advanced AI tools more affordable and accessible – and for the first time, its subscription plans are priced in rands for South African users. The new plan, powered by GPT-5, offers most…
Sen. Rand Paul, R-Ky., said he was “uninvited” to an annual White House picnic typically attended by members of Congress and their families, framing the move to reporters on Wednesday as retribution for his opposition to key components of President Donald Trump’s agenda. “They’re afraid of what I’m saying, so they think they’re going to…
