South African Rand Weakens 1% to 18.6470; Canadian Dollar Hits 2024 Low at 1.3853

The South African rand weakened by 1% against the US dollar, trading at 18.6470 ZAR per USD. Meanwhile, the Canadian dollar fell to a fresh 2024 low of 1.3853 CAD per USD. In Mexico, the peso also experienced a decline, dropping more than 1% to 18.6470 pesos per dollar, amid increased inflation concerns and investor risk aversion. The dollar opened the week at 18.52 pesos in wholesale markets and reached a selling price of 19.10 pesos in retail, marking its highest level in over six weeks.