The silver price (spot price of silver) is normally quoted in U.S. Dollars (USD). This means a depreciating or weakening South African Rand (ZAR) relative to the USD, assuming there’s no change in the silver price, creates a high silver value in South African terms. Normally, even when the Rand appreciates against the U.S.D, the silver price will increase to make up for the difference in value. The reason for this is because gold and silver prices tend to move in the same direction. This is however not always the case.
It’s however good to know that one can hedge yourself against Rand weakness by investing in or by owning silver, especially physical silver in the form of silver bullion coins (American Silver Eagles, Canadian Silver Maple Leafs, Mexican Silver Libertads, Chinese Silver Pandas, Australian Silver Kookaburras, Australian Silver Kangaroos, British Silver Britannia and Austrian Silver Vienna Philharmonics).