The South African rand weakened on Thursday, dragged lower by a firmer dollar and rising oil prices amid persistent Middle East tensions.
By 1314 GMT, the rand traded at 16.53 against the dollar, marking a decline of about 0.4 percent from its previous close.
Oil prices held steady after earlier gains pushed benchmarks above 100 dollars a barrel, reflecting market anxiety over supply disruptions.
The dollar edged toward its first weekly rise in a month, making dollar-denominated assets more expensive for investors using other currencies.
South Africa, a net energy importer, remains vulnerable to global price swings that ripple through its fragile economic landscape.
Tensions escalated after Iran seized two ships in the Strait of Hormuz, tightening control over one of the world’s busiest oil routes.
U.S. President Donald Trump extended a ceasefire with Iran, though prospects for renewed peace talks remained uncertain and distant.
Iranian parliament speaker and negotiator Mohammad Baqer Qalibaf said a full ceasefire depended on lifting the U.S. naval blockade.
On the Johannesburg Stock Exchange, the Top-40 index slipped 1.3 percent, mirroring broader investor caution across emerging markets.
South Africa’s benchmark 2035 government bond also weakened, with yields rising by eight basis points to 8.635 percent.