The South African rand approached its all-time low against the dollar early on Wednesday, affected by global risk aversion related to US President Donald Trump's tariffs and uncertainty about the future of the country's ruling coalition. The rand fell to 19.8225 per dollar, not far from the lowest level it ever reached at 19.9075 in June 2023. At 06:55 GMT, it had recovered ground to 19.73, up 0.2% on the day, but it is still down more than 3% since the start of the week

The Chinese yuan fell further against the US dollar to its lowest level in 19 months on Wednesday, after the currency fell to a record low in offshore markets overnight as investors worried about intensifying Sino-American trade tensions. The yuan weakened to a low of 7.3505 per dollar during the morning trading session, the lowest since September 2023. The offshore yuan cut its losses and climbed by about 0.62% to 7.3812 yuan per dollar in Asian trading, after falling by more than 1% in the previous session and reaching its lowest level ever recorded at 7.4288

The Kenyan shilling remained broadly stable against the dollar on Wednesday, according to data from the London Stock Exchange Group.