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South African rand edges up on hopes for de-escalation of Iran conflict

ReutersApr 1, 2026 6:43 AM

JOHANNESBURG, April 1 (Reuters) - The South African rand was slightly stronger in early trade on Wednesday, as global markets rallied on hopes of a de-escalation in the Iran conflict.

At 0635 GMT the rand traded at 16.85 against the dollar ZAR=D3, up about 0.2% on its previous close.
Global investor appetite was buoyed by comments from President Donald Trump that the U.S. could end its military campaign against Iran within two to three weeks.
The rand has been at the mercy of global market sentiment since the U.S. and Israel started the war in late February and Iran retaliated.
The rand had a strong 2025 and had started 2026 on the front foot before the war, making it vulnerable to a correction, analysts say.
Local data releases on Wednesday include a March purchasing managers' index for the manufacturing sector, March vehicle sales ZAVEHY=ECI and preliminary revenue collection figures for the 2025/26 fiscal year.

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