The rand, like other emerging market currencies, has been pummelled by the strong dollar. And unless the Fed changes its tone, further volatility - and interest rate hikes - await local investors.
This week’s grisly market marker — R18 to the dollar — is a harrowing reminder that the world’s currencies, including the rand, are at the mercy of the US Federal Reserve, as it goes all-out in its fight against inflation.
Since the Fed started hiking policy rates in March 2022, it’s been the key driving force behind emerging-market currencies. Like others in its class, the rand has been battered by dollar strength, monetary policy tightening and risk aversion linked to the war in Ukraine...
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Water shortages hit parts of JoburgWater outages in parts of Joburg due to Rand Water purification plant power trips: Johannesburg Water has warned residents in high-lying areas of the city of possible water outages due to power trips at a Rand Water purification plant.
Read more »
Water shortages hit parts of JoburgJohannesburg Water has warned residents in high-lying areas of the city of possible water outages due to power trips at a Rand Water purification plant.
Read more »
Water outages in parts of Joburg due to Rand Water purification plant power tripsJohannesburg Water has warned residents in high-lying areas of the city of possible water outages due to power trips at a Rand Water purification plant.
Read more »
PICS | Tip-off leads to illicit cigarette bust, arrest of two people | News24Limpopo police have arrested two people on the N1 next to Botlokwa for allegedly smuggling illicit cigarettes, disguised as animal feed, worth R70 000. | Lisaleesolomon1
Read more »
THE FINANCE GHOST: Roses among the JSE’s thornsIt may be hard to believe, but there have been some winning stocks on the JSE this year
Read more »