The South African rand weakened on Tuesday, with investor attention pinned on the outcome of the country's monetary policy meeting and updates on tariff negotiations as it faces a 30% levy on its exports to the U.

South African products exported to the US will be hit by a 30% tariff from 7 August, President Donald Trump has announced. South Africa faces the highest rate in sub-Saharan Africa, reflecting Trump's strained relationship with the government of President Cyril Ramaphosa.

South Africa’s government is preparing a package to support companies vulnerable to US reciprocal tariffs as it continues talks with Washington on a new trade deal.