MARKET WRAP: Rand falls the most in a month, while Naspers drags JSE lower
The local currency fell along with other emerging market currencies as risk aversion levels rise globally
24 October 2022 - 18:40
The rand weakened along with other emerging-market currencies on Monday, while the JSE was dragged lower by major tech stocks as Tencent shares sank in Hong Kong trade.
The local currency fell the most in a month as risk aversion levels rise globally. At 5.49pm, the rand had weakened 1.84% to R18.4144/$ — having fallen to R18.4537 in intraday trade. It weakened 1.94% to R18.1795/€ and 1.88% to R20.7784/£. The euro was 0.11% firmer at $0.9871...
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.