This incredible rally did not last long, and on Wednesday, the rand was trading at around R17. 60 to the dollar at 8. 30am.
Gains made by the rand over the last few weeks have been lost as the ZAR loses ground to the dollar. Picture: Karen Sandison/Independent NewspapersThe rand has weakened substantially in the last week as it takes direction from the US and awaits the impact of the Federal Reserve ’s September meeting this week.on Monday last week.
“The dollar remains strong, supported by solid US jobs data, while the ZAR awaits further clarity on these factors,” he explained.
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