FX.co ★ South African Rand at Over 1-Week Low

The South African rand weakened toward 16.1 per USD, its lowest level in more than a week, pressured by a stronger US dollar and declining prices for key precious metals, particularly gold and platinum. At the same time, traders weighed the latest domestic economic data. South Africa’s unemployment rate fell to 31.4% in Q4 2025 from 31.9% in the previous quarter, its lowest reading in over five years. Despite this improvement, joblessness remains extremely high, with more than 8.4 million people still seeking work, underscoring the country’s entrenched employment crisis. Market focus now shifts to the inflation report due on Wednesday. President Ramaphosa has recently reaffirmed plans to accelerate structural reforms aimed at boosting growth, attracting investment, and improving public-sector efficiency—measures that could support job creation. Additional details are expected in Finance Minister Godongwana’s annual budget on February 25.