The South African rand rose to its highest level against the US dollar since August 2022, continuing the strong trend since the beginning of the year. The rise in gold prices to record highs boosted the rand as South Africa is a major producer and exporter of the precious metal. The currency's strength this year also reflects the country's positive economic growth. According to the latest data, the country's economy grew 0.5% in the third quarter compared to the previous quarter, making it the fourth consecutive quarter of growth. According to data from the London Stock Exchange Group, the dollar fell to a low point at 16.5978 rand, which has fallen by nearly 12% so far this year.

The South African rand rose to its highest level against the US dollar since August 2022, continuing the strong trend since the beginning of the year. The rise in gold prices to record highs boosted the rand as South Africa is a major producer and exporter of the precious metal. The currency's strength this year also reflects the country's positive economic growth. According to the latest data, the country's economy grew 0.5% in the third quarter compared to the previous quarter, making it the fourth consecutive quarter of growth. According to data from the London Stock Exchange Group, the dollar fell to a low point at 16.5978 rand, which has fallen by nearly 12% so far this year.