South African rand softens as traders await tariff updates after Ramaphosa-Trump call
The South African rand weakens in early trade, as investors await details of President Cyril Ramaphosa’s telephone call with his U.S. counterpart, President Donald Trump, on bilateral trade.
U.S. imports from South Africa face a 30% duty, the highest rate among Sub-Saharan African countries but Ramaphosa’s office said on Thursday that he held a telephone call with Trump and that the two countries’ trade negotiating teams will have more detailed talks.
At 0623 GMT, the rand traded at 17.7325 against the dollar, 0.1% softer than Thursday’s close.
-Reuters
