The official period-average FX rate fell to 16.1794 in August from 16.4588 in July. The rate was down sharply from 17.7295 a year earlier and marked the lowest level since February 2026, according to the records. It remains far below the all-time high of 19.0527 recorded in May 2023 and well above the all-time low of 0.6667 from July 1974. The data were published by the International Monetary Fund.

South Africa FX Falls to 16.18 in August

South Africa's policy interest rate held at 7% in August 2026, unchanged from July 2026. The rate has remained at this level for three consecutive months, following a rise from 6.75% in May 2026. It stands well below the all-time high of 21.855% recorded in September 1998, and above the record low of 3.5% set in October 2021. The series, which began in December 1980, shows the rate at 7% as of August 2025, a year earlier, according to the Bank for International Settlements.

South Africa Policy Rate Holds at 7%

South Africa's money supply M2 rose to 6,123.0 billion rand in July 2026, from 6,041.8 billion rand in June, marking a monthly increase. The July figure stands as the highest on record since the series began in December 2001, surpassing the previous peak set in the prior month. Year-over-year, M2 was up from 5,639.6 billion rand in July 2025. The latest reading extends the upward trend observed over the past year, with the series having climbed from 5,850.9 billion rand in January 2026 to the current level, according to the International Monetary Fund.

South Africa M2 Rises to Record High

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