South African rand weakens as Trump's Iran deadline keeps markets on edge
Published on April 7, 2026.
The South African rand has weakened as Iran and Israel continue to trade in trade, with Iran refusing to reopen the Strait of Hormuz and accept a ceasefire deal. The country's currency fell by about 6% last month, with economists expecting inflation to rise. The U.S. dollar was flat against a basket of currencies as global traders awaited minutes of the Fed's March policy meeting and inflation indicators.
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