On 21 December the Rand weakened against the US Dollar with global risk appetite turning negative as negotiations on measures to avoid a recession in the United States stalled.
The Rand was down against the US Dollar at 8.5375 and 13.8374 to the British Pound.
On 24 December the Rand advanced, heading for its best month since June. The Rand was trading at 8.566 to the US Dollar and 13.8866 to the British Pound.
The New Year saw the Rand strengthen against the US Dollar, after both the US House of Representatives and the US Senate passed the legislation to avoid the so-called “fiscal cliff” of automatic spending cuts and tax increases.