Rand recovers a little as focus stays on SA's mounting government debt
Local issues are in focus after Fitch Ratings cut its outlook for SA to negative, but the rand has clawed back some of last week's 2.6% loss
29 July 2019 - 14:19
The rand was marginally firmer on Monday afternoon, recovering a little from last week's sharp losses, amid a deteriorating local credit-rating outlook.
The rand had its worst week in five months last week, after agency Fitch Ratings cut its outlook on SA’s debt to negative on Friday, following the announcement of an additional R59bn in support for Eskom over the next two financial years...
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