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Rough road ahead for the rand
Analysts say the rand faces more headwinds in the coming months after sliding to record lows against the US dollar following the interest rate announcement.
JOHANNESBURG - Analysts say the rand faces more headwinds in the coming months after sliding to record lows against the US dollar following the interest rate announcement.
A weaker currency stokes inflation as it raises the cost of imports.
The rand plunged to R19.83 against the dollar at one point before a slight recovery.
The Reserve Bank raised interest rates by another 50 basis points while warning that inflation remains stubbornly high.
One economist says going forward there are more economic and geopolitical risks to how investors see the rand.