Interest rates and rand crisis: Is it time to panic yet? | Business

📆 27/05/2023 11:00:00
📰 News24

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Still traumatised by the recent rand crash triggered by the Russian weapon crisis, South Africans suffered a double blow this week: a large 50 basis point interest rate hike and another shock currency slump to a record low. | HelenaWasserman

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Rand plunged to new record low overnight amid economic, interest rate concerns | BusinessThe currency has now lost almost 26% of its value over the past year. In the past two weeks alone, since the US accusation that Russia received arms in South Africa, it has plunged 8%. | News24_Business
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