The rand weakened to a two-year low against the rampant dollar on Friday, stretching its year-to-date losses to a hefty 10%, indicating the extent to which the local currency is susceptible to global risk perceptions.
SA’s currency, regarded as proxy of sentiment towards emerging markets that are perceived to be riskier, fell 0.79% to trade at R17.69/$ by 6.30pm, its weakest since August 2020...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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