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South African rand extends drop on tariffs and local politics

^{Published on 2025-04-04 05:20:31 - Reuters}

The rand fell further on Friday as investors worried about the impact of U.S. President Donald Trump's sweeping tariffs and the future of South Africa's coalition government.

The South African rand weakened further on April 4, 2025, influenced by a combination of factors including new U.S. tariffs on South African exports and domestic political uncertainty. The rand fell to 19.35 against the dollar, marking a significant drop from its previous levels. The U.S. imposed tariffs on South African steel and aluminum, citing unfair trade practices, which negatively impacted investor sentiment towards the rand. Additionally, ongoing political tensions within South Africa, particularly around upcoming elections, contributed to the currency's decline. Analysts suggest that the rand's performance will remain volatile in the near term due to these external and internal pressures.

Read the Full Reuters Article at:
[ https://www.reuters.com/markets/currencies/south-african-rand-extends-drop-tariffs-local-politics-2025-04-04/ ]

N@N

South African rand extends drop on tariffs and local politics