The South African rand was little changed on Friday as investors awaited details of President Cyril Ramaphosa's telephone call with his U.S. counterpart President Donald Trump on bilateral trade. U.S.

The USD/ZAR exchange rate dropped to a low of 17.72, its lowest level since July 25, and 3.3% below this month’s high.

The South African rand was on the backfoot in early trade on Friday, as investors weighed the prospect of higher tariffs on exports to the United States after the country failed to clinch a trade agreement before Washington’s deadline.