The rand crashed past R19 to the dollar on Wednesday, and remains on the back foot in a tougher global market.
A stronger rand is supporting lower fuel prices in South Africa - but not enough to counter rising oil prices.
Domestic inflation and load shedding drag the rand further down.
Markets are unimpressed with Ramaphosa's promises.
Lower oil futures and a weak rand paint a shaky picture for fuel prices in South Africa.
The South African rand has seen slight but impactful fluctuations within the first week of the year.
The rand took a hit in trade on Thursday (3 November) following the US Federal Open Market Committee (FOMC) raising its target range for the federal funds rate to 3.75% - 4.00% - or 75bp higher.
The rand buckled against the dollar on Tuesday (25 October), testing R18.50 - having closed last week closer to R18 against the greenback.
Despite South Africa's petrol and diesel prices normally being closely aligned, this trend has changed in the last few months, with diesel prices now expected to rise despite projected drops in the cost of petrol.
The rand continued to weaken against the dollar in morning trade on Friday (02 September), but is not alone as the US currency has flexed against major adversaries in recent sessions after data showed a resilient local economy, providing more…
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