JOHANNESBURG (KAAB TV) – The rand slumped in early trade on Monday, after U.S. President Donald Trump said he would cut off funding for South Africa.
Trump said on Sunday, without citing evidence, that “certain classes of people” in South Africa were being treated “very badly” and that he would cut off funding for the country until the matter is investigated.
08:54 Monday (EAT), the rand traded at 18.97 against the U.S. dollar , about 1.4% weaker than its closing level on Friday.