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Rand Loses Ground

The rand fell by more than 2% against the dollar, reaching R9.08 on Thursday before retracing it's steps to R9.04, as investors shunned the currency on the back of labour unrest and violent protests.

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Rand Loses Ground

| News by Staff Reporter

S.A. Losing Out To Other Emerging Markets


The rand fell by more than 2% against the dollar, reaching R9.08 on Thursday before retracing it's steps to R9.04, as investors shunned the currency on the back of labour unrest and violent protests.

This is the rand's lowest level against the dollar in four years.

Yields on Government bonds increased.

Sustained rand weakness may lead to inflationary pressures as the costs of imported oil and other essential commodities increase.

The rand is currently trading at R9.03.


Source: www.bizpremises.co.za

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