Maseru, Nov. 06 — South African Rand has weakened early on Wednesday as markets woke up to former United States (US) Donald Trump leading the election results against the Democrats.
The rand has become volatile as markets take in the in-flux US election results, while other key markets such as China also work on their next moves.
Director of Citadel Global, Bianca Botes, said the Rand has seen some wild swings, gaining traction on Tuesday to trade at 17.40 to the Dollar before weakening on the back of the Trump lead on Wednesday.
Analysts say the longer term impact of a Trump or Harris presidency will take time to filter through markets, particularly their differing trade and foreign relations policies, but the area most South Africans will feel the immediate impact is the Rand.
