Rand records worst week since February’s power cuts
The rand lost 2.56% against the dollar, the biggest weekly loss since mid-February when Eskom implemented stage 4 load-shedding
07 June 2019 - 16:54
Despite a slight recovery late on Friday, the rand posted its worst weekly performance since the country was hit by electricity blackouts in February.
The local currency broke through R15/$ on Thursday as conflicting statements from the ANC about the mandate of the Reserve Bank fuelled speculation around political uncertainty. On Tuesday, ANC secretary-general Ace Magashule said the party wanted to expand the role of the Bank to include job creation, and to explore the use of quantitative easing...
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