MARKET WRAP: Rand under pressure in thin trade
The local currency fell as much as 1.6% in intraday trade before recovering
16 January 2023 – 19:13
The rand ended off its intraday worst level on Monday, having lost the most in more than a week in exaggerated moves in a thin market with US markets closed for the Martin Luther King Day holiday.
The local currency fell as much as 1.6% in intraday trading, touching its weakest level of R17.12/$ as a “lack of liquidity with the US being out of the market putting the rand under pressure,” said TreasuryONE chief dealer Wichard Cilliers. ..
Source: businesslive.co.za
