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South African rand trades around 1-week low as US-Iran hostilities ramp up - REUTERS

MAY 06, 2026

JOHANNESBURG, May 5 (Reuters) – The South African rand was range-bound in early trade on Tuesday as fresh U.S. and Iranian strikes in the Gulf tested a fragile truce and weighed on risk appetite.

At 0647 GMT the rand traded at 16.80 against the dollar, hovering around its weakest level since April 29.

The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with duelling maritime blockades.

MARKET NEWS

May 06 Naira trades at 1,366.5/$ in official FX market May 06 South African rand trades around 1-week low as US-Iran hostilities ramp up - REUTERS May 06 Nigeria supplies less than half of allocated crude to refineries in early 2026 - REUTERS May 06 Nigeria supplies less than half of allocated crude to refineries in early 2026 - REUTERS May 06 Oil eases on signs US is loosening Iranian closure of Strait of Hormuz - REUTERS May 06 Oil eases on signs US is loosening Iranian closure of Strait of Hormuz - REUTERS May 06 Oil prices plunge on report U.S. and Iran closing in on a deal to end war; Brent crud... (read more) May 06 Nigeria opposition alliance falters as two leading figures quit, clouding 2027 unity ... (read more) May 06 Ghana inflation rises in April for first time since December 2024 - May 06 Yen Spikes to 10-Week High and Sparks Intervention Speculation - BLOOMBERG May 06 South African rand weakens as firmer dollar, oil jump weigh on sentiment - REUTERS May 06 Japan Has Two More Windows for Yen Intervention by IMF Rules - BLOOMBERG May 06 Dollar Falls on U.S.-Iran Peace Deal Hopes, Stronger Yen - BARRON'S May 06 Naira dips amid rising FX demand - PUNCH May 06 Naira exchanges at N1,385/$ in renewed rally - THE NATION May 06 Nigerian currency depreciates - DAILY POST May 06 NGX dips 0.86%, sheds N1.3tn in selloff - PUNCH May 06 Naira holds steady in black market as official window records zero turnover - BUSINESSDAY May 05 Naira roars back! Posts biggest weekly gain against Dollar in months - P.M.NEWS May 05 Experts predict sustained rally for naira as dollar hits N1,390 at parallel market - DAILY TRUST May 05 Naira rebounds, gains N51 as FX volatility eases - PUNCH May 04 Nigerian currency appreciates significantly - DAILY POST May 04 Dollar-Naira gap persists as parallel market hits N1,410 - P.M.NEWS May 04 Gold Drops With Focus on US Hormuz Plan and Iran Peace Talks - BLOOMBERG May 04 US Is Oil Supplier of Last Resort as Hormuz Disruptions Worsen - BLOOMBERG May 04 Oil pares gains after US says two vessels crossed Strait of Hormuz - May 04 Ghana cocoa buyers divert funds to purchase smuggled beans, regulator says - REUTERS May 04 Bank of England joins other central banks in freezing rate cuts as Iran war upends gl... (read more) May 04 Nigeria exports surge as customs record strong growth - PUNCH May 04 South African rand weakens as firmer dollar, oil jump weigh on sentiment - RETUERS

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