The rand weakened against major global currencies during the Easter long weekend, and had extended losses slightly on Tuesday morning as investors watched for fresh catalysts. News that Eskom had received a R17bn bail-out on Friday has put the local currency on the back foot, again raising questions about whether SA will be able to hold on to its investment-grade sovereign credit rating. Eskom continued to weigh on the rand, while emerging markets are again feeling the pinch as the US-Iran oil debacle strains sentiment, said Peregrine Treasury Solutions corporate treasury manager Bianca Botes.

PODCAST: South African consumers are going through the most...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.