Sixth day of losses for rand
The SA Reserve Bank has painted a gloomy picture of SA’s fiscal circumstances citing troubled SOEs and global factors as main risks
02 October 2019 - 11:36
The rand weakened for the sixth consecutive session on Wednesday as global risk-off weighed on emerging-market currencies, while focus shifts to the ANC’s briefing on its plans to boost the local economy.
The rand is the worst-performing among emerging-market currencies in the past five days as investors shied away from riskier assets amid uncertainty regarding the US-China trade war and global growth as well as poor domestic data. The rand weakened further on Tuesday after Absa purchasing managers’ index fell to a decade low in September. ..
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