The South African rand weakened to around 16.3 per USD, pressured by a firmer US dollar and falling prices of precious metals, particularly gold. Meanwhile, traders digested the South African Reserve Bank’s latest policy decision to raise its key repo rate to 7.25%, in line with expectations. The move underscored the central bank’s commitment to bringing inflation back toward its 3% target, with policymakers citing renewed upside risks following the escalation of the Iran war, which pushed up oil prices and dampened the global economic outlook. Earlier data showed headline inflation ticked up to 4.4% in August from 4.3% in July, just below expectations of 4.5%.