Rand in R18/$ territory and heading towards lowest level since 2020
The SA Reserve Bank and Fed are poised for hefty hikes this week
19 September 2022 - 23:19
On the eve of the Reserve Bank’s three-day monetary policy meeting, the rand slipped towards levels last seen at the height of the pandemic-induced selling frenzy, dealing a blow to consumers and businesses battling rampant inflation.
The rand weakened as much as 1.1% to R17.79/$ in afternoon deals on Monday, threatening to break through the R18/$ mark for the first since May 2020...
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