What’s the RAND doing AFTER Friday’s historic ANC-DA-IFP coalition?

What’s the RAND doing AFTER Friday’s historic ANC-DA-IFP coalition?

All eyes will be on the rand in the coming days as South Africa comes to terms with the new ANC-DA-IFP coalition set to govern the country for the next five years.

Mzansi saw its new 400-member parliament sworn in on Friday, 14 June in Cape Town.

Bookmark The South African website’s Elections 2024 hub for the latest news you need to know

It was an historic day with the ruling African National Congress (ANC) for the first time since the first democratic elections in 1994, having failed to achieve a majority in last month’s election.

Rand vs major currencies

The table below depicts the rand exchange rate against five other major currencies.

They are the dollar (US dollar), pound, euro, Australian dollar (A$) and New Zealand dollar (NZ$).

DollarR18.40/$PoundR23.36/£EuroR19.70/€Australian dollarR12.18/A$New Zealand dollarR11.30/NZ$Exchange rates as at 19:30 on Friday, 14 June 2024