Rand breaches R17/$ as euro flirts with dollar parity

The rand broke above R17/$ for the first time since October 2020, with the euro weakening further to almost equal a dollar for the first time in about two decades as investors continue to rush to the perceived safe haven of the greenback.

The rand has lost more than 5% to the dollar so far this month as negative sentiment both on the local and international front have hammered emerging-market currencies…