In afternoon trade the rand was at R19.27 to the dollar.
The rand weakened on Wednesday, as the country continued to be battered by its worst rolling blackouts on record and as markets moved away from riskier assets. At 13:52, the rand traded at R19.27 against the dollar. The dollar last traded around 0.09% weaker against a basket of global currencies.
The rand has struggled for any traction through the first half of the week,” said Danny Greeff of ETM Analytics, as sentiment towards riskier currencies like the rand soured. “Simultaneously, there is very little in the way of positive news flow out of South Africa for investors to focus on.” South Africa’s struggling state utility Eskom reinstated the worst rolling blackouts on record, which mean up to 12 hours of power cuts for most households per day.
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