The government’s continued ban on the sale of alcohol and cigarettes and the return of power blackouts is further bruising confidence
The rand was a little weaker late on Friday morning as concerns about a delayed US stimulus decision weighed on sentiment, while a resurgence of rolling power cuts threaten an already fragile economic recovery in SA.
The rand has been trading around R17/$ for two weeks due to uncertainty caused by the coronavirus pandemic, which has put pressure on emerging-market currencies, while the government’s continued ban on the sale of alcohol and cigarettes is further bruising confidence.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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