Rand remains on its losing streak as local politics keeps it under pressure
The local currency has lost about 3.5% since Monday and breached the R15/$ level
07 June 2019 - 10:00
The rand remained under pressure on Friday morning against major currencies, reaching its weakest level in eight months against the US dollar, driven by the ANC’s conflicting statements on the mandate of the Reserve Bank and a week of poor economic data.
The local currency has lost about 3.5% since Monday and broke through R15/$ against the dollar amid the uncertainty about the ruling party’s stance on the Reserve Bank...
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