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The South African rand weakened to around 16.3 per USD, the lowest level since early August, pressured by a stronger US dollar and higher oil prices. The greenback strengthened ahead of an expected Fed rate hike, weighing on emerging-market currencies. Meanwhile, the oil shock is particularly significant for South Afri
The rand traded around 16.2 per USD, its lowest since late August. It was pressured by higher oil prices and a firmer dollar amid rising expectations of a Fed rate hike next week.
The South African rand strengthens below 16 per US dollar and trades near its strongest level since late February, as a softer US dollar and higher precious metals support EM appetite.