South Africa’s rand strengthened on Monday as investors awaited further details on upcoming U.S. tariff measures under President Donald Trump.
As of 07:38 GMT, the rand was trading at 18.17 per dollar, reflecting a 0.3% gain from its previous close. Despite a roughly 4% appreciation against the dollar this year, the currency has experienced significant volatility due to a mix of domestic and global economic pressures.
Last week, the South African Reserve Bank opted to keep its main interest rate steady, even as inflation showed signs of slowing. The decision was influenced by uncertainties surrounding Trump’s ongoing global trade war and concerns over South Africa’s fiscal situation.
Investors are closely watching developments ahead of April 2, when the White House is expected to announce a new wave of reciprocal tariffs affecting multiple countries.
Meanwhile, on the Johannesburg Stock Exchange, the Top-40 index (.JTOPI) edged up by 0.2%. In the bond market, South Africa’s benchmark 2030 government bond weakened, with its yield rising by three basis points to 9.09%.
