The South African rand traded around 16.3 per USD, up from recent over two-month lows of 16.6, on receding global risk aversion amid expectations of a quick end to the conflict in Iran. President Trump said he was eyeing a quick end to the war in Iran, while also floating plans to waive oil-related sanctions and other measures to help keep oil prices under control. Meanwhile, traders closely watched the latest domestic GDP figures. The South African economy grew 0.4% in Q4 2025 compared with 0.3% in the previous three months, propelled mainly by five industries that recorded positive growth. For the whole year, South Africa’s growth also quickened to 1.1% from 0.5% in 2024, showing signs of recovery after years affected by load shedding, though below Treasury (1.4%) and Reserve Bank (1.3%) estimates.