On Friday afternoon the rand traded on R14.08 to the dollar. This was 80cents weaker than the R13.28 of the previous Friday.
Against the pound, the local unit lost 73c over the week and traded on Friday on R18. The currency also moved much weaker against the euro and depreciated by 66c to R17.07.
Geopolitical effects again overshadowed emerging currencies last week. The escalating trade war between the US and China, the US sanctions over Russia and Iran, and the increased tariffs on steel and iron ore from Turkey were the main reasons for these currencies weakening.
The stronger dollar and fears of more capital outflows from emerging economies will keep pressure on these countries in weeks to come.