The currency traded almost a percent weaker at R19.26 against the dollar at one point in early morning trade.
South Africa’s rand and JSE were trading weaker on Tuesday morning, weighed down partly by Stage 6 load shedding locally and a stronger dollar on the international front.
“We’ve been seeing some rand weakness, and that primarily is probably being driven by dollar strength. We’re seeing the dollar strong against the euro, sterling and pretty much across the basket of emerging market currencies,” he added. “And what we’re not seeing is… foreigners buying in both our equities and bond markets; that’s also diminished over the last two to three, to four years, which simply means less money coming in,” he added.
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