Rand falls to two-week low and JSE under pressure as Russia invades Ukraine

The rand weakened to a two-week low on Thursday morning, while the JSE tracked its global peers lower as investors grappled with the ongoing Russia-Ukraine conflict.

The local currency fell to an intraday worst of R15.3704/$, from R14.92/$ reached last Friday, weakening along with its emerging-market peers as investors sought refuge in dollar-denominated assets. Emerging markets like SA are also set to feel the effect through elevated oil prices, which may push up inflation. ..