MARKET WRAP: Rand touches weakest level in more than four months
Currency weakness attributed to a strong dollar ‘rather than any local factors’
23 February 2024 - 18:16
The rand weakened along with its emerging-market peers on Friday as investors considered the prospect of delayed interest rate cuts by the Federal Reserve.
The local currency fell more than 1% in intraday trade for the second session running, touching its worst level in more than four months, with the “weakness largely attributed to a strong dollar rather than any local factors”, said RMB head of forex execution Matete Thulare. ..
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.