# South African Rand Forecast: USD/ZAR Continues Lower Amid Gold Rally and Soft Dollar - Forex News by FX Leaders

> The rand strengthened over the prior week to a fresh low of about R17.23 per dollar, its strongest level in months. Support came from in-line US PCE inflation data, South Africa's record foreign exchange reserves of $70.42 billion, and rising gold prices. The Reserve Bank kept its benchmark rate at 7.50%.

- Date: 2025-09-29 · published 2025-09-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/23178-south-african-rand-forecast-usd-zar-continues-lower-amid-gold-rally-and-soft
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer rand and record reserves reduce the local cost of dollar-priced feed imports such as soybean meal and corn. The trend depends on continued dollar weakness and gold strength.

## Read by commodity

- DXY: bearish ▼
- USDZAR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-08-30 | [USD/CAD Forecast Aug. 31- Sep. 4 - Canadian dollar rally continues - Forex Crunch](https://feedsoft.ai/events/51859-usd-cad-forecast-aug-31-sep-4-canadian-dollar-rally-continues-forex-crunch.md) | +0.1% | +1.4% |
| DXY | 2026-09-01 | [South African Rand Gains Below 16 Per Dollar, Cuts War Loss](https://feedsoft.ai/events/18188-south-african-rand-gains-below-16-per-dollar-cuts-war-loss.md) | -0.6% | +2.1% |
| DXY | 2023-12-14 | [US Dollar Forecast: EUR/USD Rally Persists Following Fed and ECB](https://feedsoft.ai/events/8303-us-dollar-forecast-eur-usd-rally-persists-following-fed-and-ecb.md) | -1.3% | -1.3% |
| DXY | 2022-05-27 | [South African rand firms as dollar sinks to a month low - Markets - Business Recorder](https://feedsoft.ai/events/41694-south-african-rand-firms-as-dollar-sinks-to-a-month-low-markets-business.md) | -0.5% | +1.2% |
| DXY | 2025-09-29 | [South African rand buoyed by higher gold prices ahead of local data \| CNBC Africa](https://feedsoft.ai/events/23175-south-african-rand-buoyed-by-higher-gold-prices-ahead-of-local-data-cnbc-africa.md) | -0.3% | +0.3% |

## Sources

- fxleaders.com: https://www.fxleaders.com/news/2025/09/29/south-african-rand-forecast-usd-zar-continues-lower-amid-gold-rally-and-soft-dollar/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.