News Formal

MARKET WRAP: Rand flirts with record lows

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Malaysia News News

The risks to the rand remain heavily on the weaker side as local power issues and geopolitical tensions weigh

The rand touched a fresh record low on Friday, while the JSE ended firmer even as the outlook for SA remains gloomy.

The local currency weakened to an intraday worst of R19.52/$ — just a touch away from the low of R19.51/$ reached last Friday, as intensifying load-shedding ahead of winter weighed on the country’s growth outlook. Eskom has warned that 7,000MW-8,000MW being removed from the grid is on the cards as demand increases over the winter months. The dollar, meanwhile, is at its strongest level in six weeks. ..

 

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

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

MARKET WRAP: Rand and JSE slide on Eskom woesState-owned utility warns that stage 7 and 8 load-shedding is on the cards as winter sets in
Source: BDliveSA - 🏆 12. / 63 Read more »

Weak rand, risk of sanctions will keep interest rates high, says Investec CEO | BusinessAsset manager and banking group Investec has warned that SA's interest rates are likely to remain elevated for longer than expected as a weaker rand and the risk of sanctions due to Pretoria's support for Russia add pressure on an already weak economy.
Source: News24 - 🏆 4. / 80 Read more »