The South African rand declined on Monday as the dollar strengthened in global markets.
Analysts noted that the rands drop was intensified by expectations of a local interest rate cut and concerns about impending tariffs on South African exports to the United States.
The rand was trading at 17.87 against the dollar, approximately 0.9 weaker than the closing level on Friday.
Economists surveyed by Reuters anticipate that the South African Reserve Bank will announce another 25 basis point reduction in its repo rate on Thursday, which would lower South Africas relative interest rate return compared to more stable markets.
With just four days to go before US President Donald Trumps 30 tariffs on South African goods take effect on Friday, Pretoria has yet to finalise a trade deal with Washington.
This uncertainty has left the agriculture and automotive sectors bracing for potential job losses.
On Tuesday, 29 July, the rand was trading at R17.91 to the dollar, R23.89 to the pound and R20.74 to the euro. Oil was trading slightly lower at 69.96 a barrel.
Here are five other important things happening in and affecting South Africa today:
