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The South African rand plummeted to R17.81 against the dollar, a 3% drop attributed to investor anxiety over Donald Trump’s potential return to the White House, impacting emerging markets and causing a spike in the country’s government bond yield to 9.66%. Trump’s second presidency could have negative effects on the South African economy, particularly jeopardizing the African Growth and Opportunity Act and leading to potential damage to exports due to his tariff strategies.
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