SA currency

The rand hammered to lowest level since 2016

The rand plunged by almost 8% against the dollar on Monday, almost touching R17/$, as investors fled riskier assets, with tumbling oil prices adding to nervousness spurred by the spreading coronavirus. While global sentiment was the largest factor in the rand’s performance – with the currency seen as a proxy[…]

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Rand improves after IMF growth concerns

The rand returned to its strong level of R14.31/$ on Wednesday after weakening a day earlier due to a strong dollar and growth concerns about South Africa being voiced. “For the first time in a while we saw some rand weakness,” said Umkhulu Consulting’s Adam Phillips on Wednesday. “Having traded[…]

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