Rand stays above R15/$ as Eskom generates uncertainty
Concern over Eskom’s debt has kept the rand under pressure, with the local currency largely shrugging off an emerging-market recovery
08 August 2019 - 10:08
The rand remained under pressure on Thursday morning, failing to pull back under the R15/$ handle, as domestic uncertainty puts local risk assets on the back foot.
Concern that the government will ultimately be unable to generate a plan to shed Eskom’s debt load has meant that foreigners continue to sell SA bonds, while few analysts expect any significant strength in the local currency in coming months...
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