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Tariffs, politics a double blow for rand
The Citizen
|April 07, 2025
The rand extended declines against the dollar on Friday amid concerns about an escalating global trade war and instability in the country's ruling alliance.
The currency weakened past R19 per greenback for the first time since January, extending a slide fuelled by US President Donald Trump's announcement this week of aggressive tariffs.
A deepening dispute over proposed tax increases between the main members of the so-called government of national unity also fed the tensions.
The rand is headed for its third straight week of declines against the greenback. It's poised to drop more than 3% this week, the most since November.
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