JOHANNESBURG - The rand continues its rally against the US dollar, breaking through R16 to the dollar for the first time in almost four years.
Over the past month, the rand has strengthened by 3.86 percent, and is now 14.41 percent stronger than it was a year ago.
This marks one of its most resilient periods in recent years.
A stronger rand is broadly positive for South African consumers.
It typically reduces the cost of imported goods and puts downward pressure on fuel prices, offering potential relief at the petrol pump.
It also signals favourable outcomes from the Reserve Bank’s Monetary Policy Committee.
The ease in US tariff tensions with Europe improved global market stability and encouraged risk-on flow into emerging market currencies.