[UPDATE] The rand hit R17 to the US dollar on Monday, its weakest level since September 2020. Moneyweb rand currency
The rand hit R17 to the US dollar on Monday, weakening around 0.5% in by 13h00 SA time. This is its weakest level since September 2020, when Covid-19 lockdowns where still largely in place. The last two weeks saw the rand weakening suddenly, from R15.80 to above R16.80 per dollar by the weekend. It was still trading at around R14.50 in March/April.
Read: Euro tumbles to 20-year low, putting parity with dollar in sight “While the greenback strength is currently playing a role in the major move, as it trades higher against most currencies, the euro continues to struggle as the European Central Bank [ECB] has been behind other central banks with its policies.
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