Rand slips against the dollar

File: South African rands seen on a table. Pixabay/stevepb

JOHANNESBURG - The rand continues to weaken against the US dollar.

Analysts say while much of the weakening is due to international events, power cuts are not helping investor sentiment.

The local currency is now hovering around R15.50 to the US dollar.

READ: Massive fuel price hike for SA

Interest rate decisions are due to be taken in many developed countries, including the US.

Higher rates in those countries often drain capital away from riskier emerging markets, such as South Africa.

The rand is also dipping because of lower prices for commodities that South Africa exports.

A weaker rand increases import prices and puts pressure on the fuel price.


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