The rand was weaker against major global currencies on Wednesday afternoon, down 0.38% against the dollar for the week, with investor concerns over SA's economic prospects continuing to weigh on the local currency.

The rand was on track for its fifth consecutive session of losses on Wednesday, as continuing problems at the power utility Eskom and perceptions of political fragmentation continue to spook investors, analysts said. There are concerns that SA is headed for further credit-ratings downgrades...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now