South African Rand Hits Historic Lows Against British Pound, Donald Trump’s New Tariffs to Blame
- The South African rand has slumped against the British pound, recording its worst level ever
- The rand trades at R24.96 to the British currency and R19.33 to the US dollar as of 7 April 2025
- Donald Trump's recent tariffs are being blamed for the rand's poor performance against other currencies
Source: Getty Images
Briefly News journalist Byron Pillay has dedicated a decade to reporting on the South African political landscape, crime, and social issues. He spent ten years working for the Northern Natal Courier before transitioning to online journalism.
The South African rand is taking a beating against the British pound and the United States dollar.
With US President Donald Trump recently announcing 30% tariffs against the country and South Africa’s political instability, the rand has tanked against the major currencies.
The rand hit its worst level in history against the British currency, trading at R24.96 to the pound.
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Rand slumps to new lows against the pound
As of the morning of Monday, 7 April 2025, the rand was trading at R24.96 to the British currency. The previous worst it has been was in May 2023, when it traded at R24.43.
The rand has also taken a knock against the US dollar, with the South African currency trading at over R19 to the dollar. As of Monday morning, one US dollar is R19.33.
Source: Getty Images
Trump’s tariffs wreaked havoc on the markets
The rand’s slump has been largely attributed to the tariffs imposed on South Africa by the US President.
Trump recently announced a 10% global tariff on imports, but some countries that are considered the ‘worst offenders’ had higher tariffs imposed. South Africa was one of the countries that were hit with a higher rate, with a 30% tariff imposed upon the country.
Trump’s tariffs also caused havoc in global markets, with CNN reporting that markets plunged following Trump’s announcement.
South Africans weigh in on rand’s performance
The rand’s slump drew mixed reactions online as one person blamed the African National Congress (ANC), others defended the party, and one person suggested a currency for African countries.
Adri Audie said:
“Well done, ANC.”
Uhuru Mokoena explained:
“Markets and currencies all over the world are feeling the pinch of US tariffs. It’s got nothing to do with the ANC.”
Collin Tautau Rangata suggested:
“Mr President, maybe is time you call an AU meeting to discuss and try out the point raised by President Gaddafi; one currency for Africa. We know some African countries are still low when it comes to their currency, and it will help to raise countries like those. I don't know, but this thing of depending on Westerners kills us slowly. If you don't do it for us, do it for the next generation, and they will take it from there. You are the chairperson of Africa, so don't be too lazy to try. We won't blame COVID-19 anymore. Start acting.”
Gavin Anthony stated:
“Casualty of the economic world war.”
Kalee Roberts noted:
“The slow population, without even reading about global shifts, are going to blame ANC and/or Ramaphosa.”
DIRCO not fazed by Trump's tariffs
While Trump's tariffs have wreaked havoc on the markets, the Department of International Relations and Cooperation (DIRCO) isn't fazed by it.
The department stated that it would not bow to pressure from Trump regarding its criminal case against Israel.
Briefly News reported that South Africa opened a case against the USA's allies with the International Criminal Court of Justice (ICJ).
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Source: Briefly News
