Rand falls to lowest in month amid power cuts and global growth worries
But one analyst says the rand ‘should gain some support from higher commodity prices and resource-driven dollar inflows’
19 April 2022 – 14:01
The rand weakened to the lowest in a month against the dollar on Tuesday at midday, as global growth amid the ongoing war in Ukraine and load-shedding weighed on the currency.
The local currency fell about 1.5% against the dollar in intraday trading — the most since late February — as Russia’s move into eastern Ukraine raised market jitters. Ukrainian President Volodymyr Zelensky said Russian forces had begun a new campaign to conquer the Donbas region in the east of his country…
Source: businesslive.co.za
