The rand is just 25 cents short of R18 to the US dollar. Analysts say there are two factors acting against the local currency.
The dollar is strengthening as interest rates are expected to be hiked sharply in the US this week but they also say powers cuts are not helping sentiment. A weaker rand stokes inflation as it increases the cost of imports.
Source: eNCA
In other news – Cassper Nyovest loses partnership with SuperSport
Cassper Nyovest has announced he has lost his partnership with SuperSport ahead of his boxing match with Priddy Ugly. The star took to his Twitter stating he has good and bad news for his fans.
Cassper said he does not have good news for those looking forward to the fight on their screen as it will be available for those who attend the live event only. Learn more