Rand in R18/$ territory and heading towards lowest level since 2020

On the eve of the Reserve Bank’s three-day monetary policy meeting, the rand slipped towards levels last seen at the height of the pandemic-induced selling frenzy, dealing a blow to consumers and businesses battling rampant inflation.

The rand weakened as much as 1.1% to R17.79/$ in afternoon deals on Monday, threatening to break through the R18/$ mark for the first since May 2020…

Source: businesslive.co.za