Rand lingers at 11-month low in global risk-off environment
The local currency tested R15.20/$ earlier on Thursday
08 August 2019 - 15:22
The rand was weaker against major global currencies on Thursday, and the worst performing among emerging-market currencies, as investors digested a heavy risk-off week in which it breached R15/$.
The local currency weakened to its worst level in 11 months on Thursday, testing R15.20/$ as worries about SA’s credit rating escalated this week after Moody’s Investors Service warned about the need to restructure Eskom...
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