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Rand depreciates slightly against US dollar – SABC News

The Rand has traded at relatively low levels around R14.50 against the dollar for the past three weeks, despite the strong dollar, which has often kept the rand afloat.

It could be said that the strength of the dollar is due to the rapid and rapid increase in interest rates in the US, which attracts interest for the dollar.

To date, however, the rand has fallen nearly 2%, gaining a strong dollar and trading around R15.60 at the start of the JSE trade.

This comes after the rand was still trading below R15 to the dollar during yesterday’s session.

In addition to the strength of the dollar, the weakness of the new rand can also be blamed Eskom quit recently and of floods in KwaZulu-Natalwhich have undermined economic growth.

Rand depreciates slightly against US dollar – SABC News

Source link Rand depreciates slightly against US dollar – SABC News

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