The South African rand rose further to around 17.2 per USD, the highest since September 2024, following the removal of the country's removal from a watchdog’s dirty-money list. The Paris-based Financial Action Task Force said on October 24 that the country, along with Nigeria, Mozambique, and Burkina Faso, had been taken off its list of jurisdictions under enhanced monitoring, acknowledging increased efforts to tackle money laundering and terrorist financing. South Africa’s removal follows two years and eight months of reforms, reinforcing institutional strength and enhancing the country’s global credibility, which is crucial for attracting foreign investment.