The South African rand extended losses on Wednesday after the Democratic Alliance (DA) party said talks with the African National Congress (ANC) over passing the budget had broken down.The two biggest parties in the ruling coalition have negotiated for weeks to try to reach a deal on the country's contested budget.

The South African rand weakened early on Tuesday as negotiations between coalition partners over the deadlocked budget dragged on, hours before a key parliamentary committee was set to debate it.

South Africa's rand strengthened on Monday, as gold hit a fresh high and optimism grew over the prospect of an agreement between the two biggest government partners on the budget.

The rand, already under pressure from Wednesday’s budget drama, suffered another blow as US president Donald Trump announced global tariffs.

USD/ZAR rose on Wednesday as South African rand continue to weakened following the collapse of budget talks between the DA and ANC. On South Africas Democratic Alliance (DA) party rejected the

The cost of using Cuban labor was up to 3.8 times higher than if South African technicians had been employed,” reports the African country's press.

The rand lost 1.3% on Wednesday as parliament meets to vote on the 2025 budget—a critical test for a fractured GNU.

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South Africa’s Public Works Minister Dean Macpherson, 40, said he plans to create a state-owned company that will manage the government’s real estate portfolio and entice private investment into infrastructure projects.