SOUNDINGS

A daily reading of the South African investment case

The read, 29 Oct 2026

Fixed Investment (GFCF) as % of GDP D2
13.70%
Bullish
SA–US 10-Year Yield Spread X1c
374bps
Neutral

Currencies X5

Is the rand steady against the crosses you hold?

Horizon

Is the rand steady against the crosses you hold? X5

Rand per pound ZAR/GBP
21.5022.0022.5023.0022.16Jan 26Apr 26Jul 26Oct 26
Rand per Swiss franc ZAR/CHF
19.5020.0020.5021.0021.5020.08Jan 26Apr 26Jul 26Oct 26
Rand per US dollar ZAR/USD
15.5016.0016.5017.0017.5016.64Jan 26Apr 26Jul 26Oct 26

Quoted as rands per unit of foreign currency, so a rising line is a weakening rand. That inversion is exactly why these deltas carry no colour: a falling number here is the rand strengthening, and a red arrow would say the opposite of the truth. ECB 16:00 CET reference fixings — indicative rates, not tradeable ticks. The live spots beside them are market rates, which is a different measurement from a fixing: that is why each says vs close rather than claiming a same-basis move. The franc has no free unmetered quote of its own, so its live figure alone is a computed cross — the CNBC USD/ZAR print divided by the CNBC USD/CHF print, both taken at the same moment, or nothing shown at all.

Table view — Is the rand steady against the crosses you hold?
DateRand per poundRand per Swiss francRand per US dollar
29 Oct 202622.1620.0816.64
28 Oct 202622.1220.0416.65
27 Oct 202622.1920.0916.65
26 Oct 202622.2020.1316.63
23 Oct 202622.1920.1316.60
22 Oct 202622.0920.0916.52
21 Oct 202621.9419.8716.37
20 Oct 202621.9920.0016.48
19 Oct 202621.9119.9216.43
16 Oct 202621.9119.9516.43
15 Oct 202621.9319.9416.56
14 Oct 202621.8519.7616.47
13 Oct 202621.8519.8216.50
12 Oct 202621.8919.8616.54
9 Oct 202621.8619.8916.53
8 Oct 202621.9919.9716.65
7 Oct 202622.0420.0416.69
6 Oct 202621.8919.8616.49
5 Oct 202621.9920.0016.62
2 Oct 202622.0920.2416.73
1 Oct 202621.9019.8116.55
30 Sept 202621.7819.6416.39
29 Sept 202621.6919.6516.37
28 Sept 202621.7419.7116.39
25 Sept 202621.5919.6716.29
24 Sept 202621.7319.8616.44
23 Sept 202621.7019.8716.35
22 Sept 202621.7019.8216.24
21 Sept 202621.7819.7916.26
18 Sept 202621.7119.7116.27
17 Sept 202621.7419.7116.25
16 Sept 202621.8919.8616.27
15 Sept 202621.9419.8916.27
14 Sept 202621.9319.9016.25
11 Sept 202621.8319.8216.16
10 Sept 202621.8319.8916.15
9 Sept 202621.7619.8716.04
8 Sept 202621.7119.7516.02
7 Sept 202621.6419.7615.99
4 Sept 202621.6019.7315.97
3 Sept 202621.6519.8416.04
2 Sept 202621.7019.7716.09
1 Sept 202621.8619.9316.16
31 Aug 202621.8219.9316.12
28 Aug 202621.7319.9016.00
27 Aug 202621.7119.8515.99
26 Aug 202621.6919.8015.92
25 Aug 202621.7919.9215.99
24 Aug 202621.8219.9416.00
21 Aug 202621.8620.0216.00
20 Aug 202622.0420.2416.17
19 Aug 202622.0220.0516.24
18 Aug 202621.9419.9616.22
17 Aug 202621.9319.9716.18
14 Aug 202621.8819.9116.16
13 Aug 202621.7519.8416.12
12 Aug 202621.8219.8916.13
11 Aug 202621.8419.9716.18
10 Aug 202621.8520.0116.18
7 Aug 202621.8220.0216.22

Showing the most recent 60 of 256 observations in this window.

Neutral R22.161 to the pound on Thursday 29 October, 0.18% softer on the day from Wednesday's R22.121. Against the Thursday before it is 0.32% softer from R22.091; one month is 2.19% softer from R21.686 on 29 September, and twelve months 1.95% firmer, from R22.601. Neutral holds, but the bearish line is closer again. The call turns bearish on a month more than three per cent softer. The month comparison moved on to 29 September, when the rand was firmer than on the 28th, so the month's softness grew from 1.74% to 2.19% with only a small move on the day. The line now sits at about R22.34, 0.8% above Thursday's fixing. The year's margin has also shrunk, from 3.41% firmer to 1.95%, for the same calendar reason.

One of these was ours, not yours

The brief named the pound and the Swiss franc. Rand/dollar was our addition — the conventional reference cross, kept because almost everything else on this dashboard is priced in dollars and reads against it. Offered to you, and kept on your word(30 August 2026); it now carries its own reference, X5c.

Where these numbers come from

SeriesSourceCadenceLatest
Pound / RandFrankfurter (ECB reference rates, keyless)daily · quantitative2026-10-29 · current
Swiss Franc / RandFrankfurter (ECB reference rates, keyless)daily · quantitative2026-10-29 · current
US Dollar / RandFrankfurter (ECB reference rates, keyless)daily · quantitative2026-10-29 · current