JOHANNESBURG: South Africa’s rand extended its recent rally on Tuesday, as markets continued to look for clarity on U.S. President Donald Trump’s tariff plans.
At 1400 GMT, the rand traded at 18.19 against the U.S. dollar, about 0.4% stronger than Monday’s close.
The dollar was down around 0.3% against a basket of currencies as investors awaited clarity on the next round of Trump tariffs expected to take effect on April 2.
Domestic data released earlier showed South Africa’s composite leading business cycle indicator rose 0.9% month on month in January.
South African rand firms as markets await US tariff clarity
The indicator collects data on vehicle sales, business confidence, money supply and other factors in Africa’s most industrialised economy.
On the stock market, the Top-40 index was up about 0.8%.
South Africa’s benchmark 2030 government bond was slightly weaker, with the yield up 1.5 basis points to 9.15%.
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