| 2026 | 16.40 | 17.80 | 21.60 | Gold strength and carry supported the rand |
| 2025 | 16.57 | 18.30 | 21.40 | Disinflation and a softer dollar |
| 2024 | 18.90 | 19.60 | 23.70 | Post-election coalition relief |
| 2023 | 18.30 | 20.20 | 23.30 | Load shedding and grey listing |
| 2022 | 17.00 | 18.20 | 20.50 | Global tightening cycle |
| 2021 | 15.95 | 18.10 | 21.50 | Commodity strength offset by unrest |
| 2020 | 14.65 | 18.00 | 20.00 | Pandemic shock then recovery |
| 2019 | 14.00 | 15.70 | 18.40 | Eskom and growth concerns |
| 2018 | 14.35 | 16.40 | 18.30 | Emerging market selloff |
| 2017 | 12.35 | 14.80 | 16.70 | Political change rally |
| 2016 | 13.70 | 14.40 | 16.90 | Recovery after Nenegate |
| 2015 | 15.50 | 16.90 | 22.90 | Nenegate in December |
| 2014 | 11.60 | 14.00 | 18.00 | Commodity price decline |
| 2012 | 8.47 | 11.20 | 13.70 | Marikana and downgrades |
| 2010 | 6.62 | 8.85 | 10.30 | Post-crisis commodity boom |
| 2008 | 9.30 | 13.10 | 13.50 | Global financial crisis |
| 2005 | 6.33 | 7.50 | 10.90 | Commodity cycle strength |
| 2002 | 8.64 | 9.05 | 13.90 | Recovery after the 2001 collapse |
| 2001 | 12.13 | 10.70 | 17.60 | Currency crisis |
| 2000 | 7.57 | 7.05 | 11.30 | Before the collapse |