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This week, an attempted assassination of Donald Trump, Joe Biden exiting the presidential race and a global internet outage occurred. Investors shifted to stable currencies, causing the rand to depreciate.

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The rand has fluctuated significantly due to international influences this past week. Softer US economic data and US election activities have caused uncertainty about the long-term strength of the US dollar.

The rand sharply dropped by nearly 65 cents against the dollar in the first two days of last week due to weak economic data and increased political interference.

Of all the tax collected in South Africa, 20% goes towards paying interest on the government’s debt which is now R5.2 trillion.

On Monday, the rand strengthened to R18.00 at the opening but closed at R18.32 as the market realized the new government’s policies would take time to drive economic growth.

John Hlophe was earning about R2.3 million as judge president, but now that has dropped to roughly R1.2 million as an MP.

The rand dropped to R18.23 per USD before rebounding to around R18.10 due to a technical correction and anticipation of President Cyril Ramaphosa’s cabinet appointments.

Throughout the week, the dollar strengthened after hours, but during the South African trading desk time, the rand gained strength and lowered the exchange rate.

The South African rand has exhibited some fluctuation and is currently valued at R18.85 against the US dollar.

The South African rand depreciated to a one-month low of R18.80 per dollar due to a stronger US dollar and ongoing political uncertainty.

The rand demonstrated notable resilience, but ongoing challenges and political uncertainties continue to pose risks.

As the elections approach, the rand might struggle to make further gains as the market assesses what the election results mean for national coalition politics.

The South African rand gained strength recently due to a weaker US market and conservative policies of the South African Reserve Bank.

The rand’s rise was primarily influenced by international factors, particularly trends in the US Dollar (USD), though domestic economic data also played a significant role.

The South African rand demonstrated a surge this past week, largely influenced by international factors and global market sentiments.

The South African rand fell sharply, driven by “risk-off” sentiment amid ongoing Middle East conflict and fears of escalation.

This week, two key events unfolded: US inflation data surpassed forecasts, delaying the rate cut to September and boosting the US Dollar.

The South African rand increased significantly the past week. This was due to a weaker USD and a robust gold price.

Last week, the South African rand (ZAR) stayed stable, fluctuating between R23.75 and R23.95 against the British Pound. More in the following report.

Loyalty programmes have grown in popularity in South Africa, with three shopper savings cards standing out above the rest.

The Rand’s strength was fueled by rising gold prices, a weaker US Dollar, and slight improvements in the South African economy.