South African rand firms as markets await US tariff clarity

JOHANNESBURG: South Africa’s rand strengthened on Monday as investors awaited clarity on the next round of tariffs from US President Donald Trump.

At 0738 GMT, the rand traded at 18.17 per dollar, about 0.3% stronger than its previous close.

While the rand has gained about 4% against the dollar this year, trade in the local currency has often been volatile as both domestic and international factors weigh.

South Africa’s central bank kept its main interest rate unchanged last week despite cooling inflation amid risks stemming from Trump’s global trade war and the country’s deadlocked national budget.

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The next round of tariffs is due on April 2, when the White House will announce reciprocal levies on many countries.

On the stock market, the Top-40 index was last up about 0.2%.

South Africa’s benchmark 2030 government bond was weaker, with the yield up 3 basis points to 9.09%.