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Direct: The South African currency lost nearly 1.5% against the dollar Friday, reaching its lowest level in 11 months, fearing a slowdown in economic growth.
Economic data yesterday showed that industrial production in South Africa fell by 3.2% in June compared with the previous year.
These negative data add to concerns about the economic outlook and credit rating of the African country.
Rising trade tensions have caused volatility in global markets this week, especially in emerging markets, notably South Africa, where China is the main trading partner.
For its part, US President Donald Trump today criticized the strength of the US dollar, demanding that the Fed reduce its interest rates by about 1%.
Last month, the South African central bank decided to cut rates by 25 basis points to 6.5 percent.
The central bank cut economic growth estimates this year to 0.6 percent, down from 1 percent in previous forecasts.
At 20:19 UTC, the South African rand had lost about 1,5% against 15,267 rand against the dollar, having reached 15,298 rand during the previous session, its lowest level since September 2018.
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