JOHANNESBURG - US President Donald Trump unveiled global reciprocal tariffs on Wednesday, triggering a market frenzy worldwide and causing the South African rand to weaken overnight.
The Rand was nearing the R19 mark against the US dollar this morning, but has strengthened to around R18-85.
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The decline is further exacerbated by the recent budget vote, which has highlighted growing tensions within the government of national unity, with coalition partners struggling to reach common ground.