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Rising energy prices pressure the rand as Middle East tensions escalate
March 16, 2026
|The Star
THE South African rand weakened on Friday, heading for a second consecutive week of losses as surging energy prices fueled by conflict in the Middle East rattled global markets and heightened inflation concerns.
On Friday morning the rand traded at R16.94 against the dollar, 0.9% weaker than Thursday.
The currency has faced sustained pressure since the US-Israeli war on Iran started nearly two weeks ago. It fell over 3% last week and is poised to decline by around 2% this week. Rising oil prices pose a challenge for South Africa.
هذه القصة من طبعة March 16, 2026 من The Star.
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