UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(Dd) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) ~~January~~March 1530, ~~2010~~2012

~~CurrencySharesSM~~CurrencyShares® South African Rand Trust

Sponsored by ~~Rydex~~Guggenheim Specialized Products , LLC,

d/b/a ~~Rydex~~Guggenheim Investments

(Exact name of registrant as specified in its charter)

NEW YORK	001-34162	30-6164140
New York	001-34162	No. 30-6164140
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
(State or other jurisdictionof incorporation)	(Commission File Number)	(IRS EmployerIdentification No.)
805 King Farm Boulevard, Suite 600 Rockville, Maryland		20850
(Address of principal executive offices)		(Zip Code)

9601 BLACKWELL ROAD, SUITE 500 ROCKVILLE, MARYLAND		20850
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (301) 296-5100

~~NOT~~Not ~~APPLICABLE~~Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 48.01 ~~Changes~~Other ~~in Registrant’s Certifying Accountant~~Events.

~~Former~~Effective ~~independent~~as ~~registered~~of ~~public~~March 30, ~~accounting~~2012, ~~firm~~Rydex Specialized Products LLC, d/b/a Rydex Investments, sponsor of the CurrencyShares® South African Rand Trust (the “Trust”), will change its name to Guggenheim Specialized Products, LLC, d/b/a Guggenheim Investments. A copy of the press release issued by Guggenheim Investments announcing the name change is attached hereto as Exhibit 99.1 and incorporated herein by reference.

~~The~~Item ~~Board of~~9.01 ~~Managers~~Financial ofStatements ~~Rydex~~and Specialized Products LLC, d/b/a Rydex Investments (the “Sponsor”), sponsor of CurrencySharesSM South African Rand Trust (the “Trust”) dismissed PricewaterhouseCoopers LLP (“PwC”) as its independent registered public accounting firm on January 15, 2010Exhibits.

~~PwC’s~~The following ~~reports~~is onfiled ~~the Trust’s consolidated financial statements~~ as ~~of and for the fiscal year ended October 31, 2009 and the period from August 8, 2008 (date of inception) to October 31, 2008 did not contain~~ an ~~adverse~~Exhibit ~~opinion or a disclaimer of opinion and were not qualified or modified as~~ to ~~uncertainty,~~this ~~audit~~Report: ~~scope or accounting principles.~~

~~During~~99.1 ~~the~~Press ~~fiscal~~Release ~~year~~dated ~~ended~~as ~~October 31, 2009, the period from August 8, 2008 (date~~ of ~~inception)~~March ~~to October 31~~30, 2008 and through January 15, 2010, there were no disagreements with PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC, would have caused PwC to make reference to the subject matter of the disagreement in their reports on the Trust’s financial statements for such years. 2012

During the fiscal year ended October 31, 2009, the period from August 8, 2008 (date of inception) to October 31, 2008 and through January 15, 2010, there have been no “reportable events” (as such term is defined in Item 304(a)(1)(v) of Regulation S-K).

The Trust provided PwC with a copy of the above disclosures and requested that PwC furnish a letter addressed to the SEC stating whether or not it agrees with the statements made above. A copy of PwC’s letter has been filed as Exhibit 16.1 to this Report.

New independent registered public accounting firm

The Trust conducted a competitive process to select a firm to serve as the Trust’s independent registered public accounting firm for the fiscal year ending October 31, 2010. As a result of this process and following careful deliberation, on January 15, 2010 the Sponsor’s Board of Managers appointed Ernst & Young LLP (“E&Y”) as the Trust’s independent registered public accounting firm for the fiscal year ending October 31, 2010. The Trust formally engaged E&Y as its independent registered public accounting firm on January 22, 2010.

During the fiscal year ended October 31, 2009, the period from August 8, 2008 (date of inception) to October 31, 2008 and through January 22, 2010, the Trust has not consulted E&Y regarding (1) the application of accounting principles to a specific completed or contemplated transaction, or the type of audit opinion that might be rendered on the Trust’s financial statements, or (2) any matter that was either the subject of a “disagreement” (as such term is described in Item 304(a)(1)(iv) of Regulation S-K) or a “reportable event” with PwC (as such term is described in Item 304(a)(1)(v) of Regulation S-K).

Item 9.01 Financial Statements and Exhibits

(c)		Exhibits
Exhibit 16.1		Letter from PricewaterhouseCoopers LLP dated January 22, 2010

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CURRENCYSHARESSM
	SOUTH AFRICAN RAND TRUST
	By:	Rydex Specialized Products LLC
		Sponsor of the CurrencySharesSM
		South African Rand Trust
January 22, 2010	By:	/S/ NICK BONOS
		Nick Bonos
		Chief Executive Officer




March 30, 2012	By:	/s/ Nikolaos Bonos
		Nikolaos Bonos
		Chief Executive Officer

CURRENCYSHARES^®

SOUTH AFRICAN RAND TRUST

Guggenheim Specialized Products, LLC

Sponsor of the CurrencyShares^®

South African Rand Trust

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