The South African (SA) Rand edged up against the Dollar on Wednesday, extending the week’s gains as investors continued to pile into precious metals.

The Rand was 0.1% stronger than Tuesday’s closing level at 16.6625 to the Dollar.

Johannesburg-listed stocks also rose, with the Top-40 Index up 0.8%.

“The Rand appears to be ending 2025 on the front foot. With the Dollar still on the defensive and commodity prices rising to help sustain SA’s trade balance in surplus territory, there is solid justification for the Rand’s impressive performance,” ETM Analytics said in a note.

The Rand is on course for gains of more than 12% against the Dollar this year, bolstered by SA’s improved fiscal performance and success containing inflation as well as soaring prices of precious metals like gold and platinum, which are major exports.

–Reuters–