RAND WATCH: Exchange rate against FIVE major currencies after election

The South African rand strengthed somewhat on Tuesday morning following the announcement of the final results of the 2024 elections in the country.

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

While political parties jostle to form coalitions following an historic election which saw the ruling African National Congress (ANC) lose its majority for the first time in 20 years, the rand held firm having previously weakened during the counting of the votes.

South Africans are urged to batten down the hatches and prepare to weather the storm ahead until the political landscape in Mzansi stabilises.

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

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