Rand pares losses while markets await some news on Eskom
Rabobank’s Piotr Matys warns that it is ‘absolutely critical’ that a restructuring plan is implemented quickly to reduce the risk of a downgrade
17 October 2019 - 10:34
The rand broke its three-day losing streak on Thursday morning, leading emerging-market currencies in gains while the market awaits some news on Eskom.
The local currency pared some losses on Thursday, strengthening to as much as R14.85/$ in intraday trade. The rand broke through R15/$ after Eskom implemented stage 2 load-shedding on Wednesday. The first power outage in several months added to investor concern about the troubled power utility...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.