Economy

In early afternoon trade the rand was at R19.57 to the dollar.

The rand has weakened about 13% against the greenback this year.

Spot gold rose 0.3% to $1 826.53 an ounce.

Economic growth in sub-Saharan Africa is forecast to slow to 2.5% this year from 3.6% in 2022, the World Bank said.

In early afternoon trade the rand was at R19.28 to the dollar.

Bitcoin was little changed at $27 393.

Yellen also said that it’s critical to maintain a 'sustainable fiscal policy.'

Unleaded petrol will cost between R1.08 and R1.14 per litre more from Wednesday.

Russia’s currency weakened as much as 0.5% to 100.255 against the greenback, before trading at 99.94 as of 7:22 a.m. in Moscow on Tuesday.

The local currency hit R19.22 to the dollar in afternoon trade on Tuesday.

Spot gold fell 0.4% to $1 821.61 an ounce.

'Whether the fed funds rate needs to go higher than its current level and for how long policy needs to remain restrictive will depend on how the economy evolves relative to the outlook,' she said.

In afternoon trade the rand was at R19.14 to the dollar.

Althogh the country faces a high degree of 'volatility and uncertainty' in its growth dynamics.