Load shedding can't take all the blame for the Rand being in the dumps | The Citizen

SA's government is in a state of disaster and the Rand won't simply recover, even if Eskom finds a way to keep the lights on.

Is the weak rand the result of the ongoing load shedding? Many South Africans are pondering this question, as the currency is hovering near multi-year lows, depreciating to its weakest level against the US dollar since late 2020, trading at around R16.70/$. At the same time South Africa is experiencing its worst load-shedding on record since last week.

The BER says in addition to further depressing already subdued South African business and consumer confidence, the move to stage 6 also soured foreign investor sentiment towards the country, and likely contributed to the slide in the Rand/Dollar exchange rate. “We also have a government that is in a state of disaster. It is falling apart and people are moving their capital out of the country as markets weaken,” he said.

“Central banks around the world are looking to rein in inflation to prevent the significant economic damage that comes with long-term higher levels of inflation, and therefore interest rates are watched closely.”How the risk of recession affects the Rand

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

TheCitizen_News /  🏆 6. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Load shedding threat to national security' | The CitizenAgri-SA concerned that ongoing load shedding could lead to public disturbance.
Read more »

How to watch 'TV' during load shedding without a generator | The CitizenThi new ZenScreen Go from Asus has a built-in 7800mAh battery, which provides up to four hours of active use.
Read more »

Load shedding relief: Mantashe given renewable energy ultimatum | The CitizenCivil society groups have threatened to get President Ramaphosa to force Mantashe to introduce renewable energy to the grid.
Read more »

Daily hacks: How to dry your hair without a hair dryer during load shedding | The CitizenIn our 'daily hacks' series, we bring you the latest beauty and home tips, trends and tricks to transform your life and save you money.
Read more »

Concerns raised as criminals target vulnerable farms when load shedding hits | The CitizenFarmers now had to plan around load shedding because running a generator fulltime was simply uneconomical.
Read more »

Rand Report: Lights out for the randThe rand had a terrible trading week after Eskom plunged the country into darkness with stage 6 loadshedding. Sable_Intl
Read more »