South Africa Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
South Africa's real effective exchange rate was 112.14 in 2026 (projected), ranked 46th globally. This represents a 7.8% increase from 2025. Data from BIS, covering 1979–2026.
Overview
South Africa's real effective exchange rate stood at 112.14 in 2026, a rise of +8.14 from 2025. Based on recent trends, this figure is projected to reach 118.80 by 2027. South Africa ranked 46th globally.
South Africa’s real effective exchange rate, as measured by the Bank for International Settlements, stood at 112.14 in 2026, ranking 46th globally and placing it between peer economies such as Algeria (111.36) and the Slovak Republic (112.72). The country’s exchange rate has undergone substantial fluctuations over the 48-year coverage period, peaking at 181.79 in 1983 during a period of strong rand valuation amid capital controls and high interest rates, before reaching an all-time low of 69.85 in 2023 amid persistent structural challenges, energy crises, and weakening investor confidence. Since the early 1980s, the trend has generally been one of depreciation, reflecting long-term economic volatility and declining competitiveness. The 2026 level indicates some stabilization compared to the 2023 trough, though it remains well below historical highs. This moderate recovery may signal improved external balances or temporary capital inflows. The trajectory could shift depending on structural reforms, energy sector performance, and global risk sentiment, particularly given South Africa’s sensitivity to commodity prices and capital flow reversals.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2029* trend | 140.03 | - | - |
| 2028* trend | 129.41 | - | - |
| 2027* trend | 118.80 | - | - |
| 2026 | 112.14 | +8.14 | #46 |
| 2025 | 104.00 | +2.01 | #36 |
| 2024 | 72.60 | −25.53 | #5 |
| 2023 | 69.85 | −37.91 | #4 |
| 2022 | 76.12 | −33.55 | #5 |
| 2021 | 77.68 | −22.32 | #6 |
| 2020 | 71.07 | −40.08 | #4 |
| 2019 | 78.27 | −36.56 | #5 |
| 2018 | 80.84 | −32.28 | #8 |
| 2017 | 79.66 | −20.00 | #6 |
| 2016 | 70.69 | −36.43 | #2 |
| 2015 | 75.23 | −34.47 | #6 |
| 2014 | 77.10 | −39.56 | #6 |
| 2013 | 82.11 | −49.07 | #4 |
| 2012 | 92.43 | −47.11 | #8 |
Detected Pattern
Analysis
South Africa matched the Export Boom Cycle pattern in 1994. Historically, 71% of countries showing this pattern (546 out of 768) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
South Africa's real effective exchange rate was 112.14 in 2026. Ranked 46th globally. This represents a 7.8% increase from the previous year.
South Africa's real effective exchange rate peaked at 181.79 in 1983.
The lowest real effective exchange rate in South Africa was 69.85 in 2023.
South Africa ranks 46th globally in real effective exchange rate as of 2026.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
South Africa's real effective exchange rate is projected to reach 118.80 by 2027 based on trend extrapolation.
The real effective exchange rate of South Africa in 2026 was 112.14. This ranks 46th in the world.
Cite this page
@misc{historysaid_south-africa_reer,
title = {South Africa Real Effective Exchange Rate},
url = {https://historysaid.com/south-africa/reer/},
publisher = {HistorySaid},
year = {2026}
}