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Banks head to court over rand manipulation, and South Africa offers US new deal | SA News

Malcolm Libera
 ·13 Aug 2025

The rand strengthened on Tuesday as analysts observed that the recently imposed 30% tariffs by the U.S. on South African exports are likely to have a limited impact on the country’s assets.

JPMorgan stated that the markets have “largely priced in the reality of higher tariff headwinds already.” Last week, South African exports to the US faced a 30% tariff, the highest rate in sub-Saharan Africa.

In response, the country announced it would submit a revised trade offer to Washington in hopes of obtaining a lower rate.

The…

Literacy Rate: The country has made significant progress in improving literacy
rates since the end of apartheid, with a current rate of approximately 94%.

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