Compared with the previous month, the rand showed, on average, a strong depreciation against most of the major developed market and developing market currencies in April 2023. The unweighted average change in the value of the rand amounted to -4.2%. Month-on-month, the rand depreciated most against the Russian rouble (-6.6%); Brazilian real (-5.3%); British pound (-5%); Swiss Franc (-4.4%); and US dollar (-4.6%). The rand was also weaker against the Canadian dollar (-4.3%) and Australian dollar (-3.8%). The rand was stable against the Japanese yen.
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