About 1 dollar will buy R16.64.
The Rand strengthened against the dollar on Tuesday, driven by several factors.
Climbing export prices were reported for commodities such as gold and platinum.
Annabel Bishop, Chief Economist at Investec, said the rand is a bit weaker now than what it was, in September (near R15,90).
Another factor is the success in vehicle sales, coupled with lower producer inflation.
The US Dollar is also weakening, due to a decision by the US Treasury, to repurchase securities that are longer-dates.
Bishop also wrote that “the mini budget is scheduled for the 21st of October this year, and has been expected to show a revenue overrun, with companies in South Africa benefiting from higher gold and platinum prices versus last year.”