Compared with the previous month, the rand generally strengthened in March 2022 against most major developed market and developing market currencies. The unweighted average change in the value of the rand amounted to 1.9% (excluding the Russian rouble). Month-on-month, the rand appreciated most against the euro (4.1%) and Japanese yen (3.9%). (Also excluding the rouble, against which the rand strengthened 45%). The rand also gained against the US dollar (1.5%), UK pound (3.8%), and Swiss franc (2.6%). The rand was weaker against the Australian (-1.6%) and NZ dollar (-1.5%).
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