Sa rand weakens
Rand under pressure from strong dollar
At 0600 GMT, the rand traded at 13.8850 versus the dollar, 0.4% weaker than its close on Monday.
The Money Show’s Bruce Whitfield interviews Rand Merchant Bank currency strategist John Cairns.
By 1540 GMT the rand had slipped 0.15% to 13.4300 per dollar, reversing some losses from earlier in the session.
Chief Economist at Econometrix Dr Azar Jammine explains the combination of factors that have led to a weak currency.
South Africa will achieve strict consolidation targets set out in the budget, the Treasury said yesterday.
The report raised concerns of a repeat of the run on the rand and bonds in December.
Ten economists said a cut to junk would be negative for markets, while six said it would be very negative.
The rand has been included in a list of the five worst performing currencies of 2015.
This afternoon, the rand touched its weakest level ever against the dollar at 14,01.
George Herman says the rand’s beating is 'bitter medicine' that’s good for the economy in the long run.
The currency was almost one percent weaker in early trade on Thursday morning.
The prospect of labour unrest in the mining sector continues to unnerve investors.
Reserve Bank Governor Gill Marcus has blamed a range of issues for SA’s slow growth.
Thirty-two analysts see the rand weakening to R9.69 against the greenback in one month.
This is the weakest the rand has been against the dollar in over four years.
Finance Minister Pravin Gordhan says government is concerned about the volatility of the rand.
Economists say the rise in world oil prices and a weak rand will push up petrol prices.