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The rand has fallen to a two-month low as South Africa faces a 30% tariff.
Jin10 data reported on August 1st that the South African Rand fell in early trading on Friday, as U.S. President Trump will maintain the tariff rate on South Africa at 30%, with investors weighing the possibility of higher tariffs on U.S. export goods. The executive order signed by Trump states that the tariff rate will take effect within seven days. As a result, the South African Rand reached a high of 18.23 against the U.S. dollar, marking the lowest level since May 14.