MARKET WRAP: Rand sinks to weakest since May 2020 amid global risk aversion
The latest blowout was due to a strong dollar, which also hurt commodity prices, indicating continuing angst over the global economy
23 September 2022 – 19:27
The rand fell as much 2% on Friday in its biggest one-day fall since early June, rounding off what has been a brutal week for risk assets.
SA’s currency sank to R17.92/$ by Friday afternoon, the lowest since the early days of the Covid-19 pandemic in May 2020, stretching year-on-year losses to 21%…
Source: businesslive.co.za
