News Formal

Rand set to end week firmer but stocks drop

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 53%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The currency hit a one-week high of R17.3325 before trimming the gains, with market sentiment weighed by concerns over the return of power cuts at a time when economic activity is being stifled by the COVID-19 pandemic.

JOHANNESBURG - The rand was set to end the week on a firmer footing, even though its recent rally has been slowed by the return of rolling nationwide power cuts and more signs that the domestic economy remains under pressure.

On Friday, state power utility Eskom implemented nationwide rolling electricity blackouts for a second day, cutting up to 2,000 MW from the national grid, after a number of generating units broke down. “The road to recovery is fraught with dangers, but energy availability need not be an added constraint.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rand weaker on increased market volatilityBoth confusion over the US stimulus package and more Covid-19 surges are weighing on markets
Source: BDliveSA - 🏆 12. / 63 Read more »