[CURRENCY] At 11:45 the rand traded at R18.75 against the US dollar. Moneyweb Currency
South Africa’s international bonds and the rand came under fresh pressure on Wednesday as fears grew of scheduled blackouts known as load shedding worsening over winter. The yield rose above 9%, its highest level in almost six months. In early trade the rand weakened to a three-year low of R18.
83 against the dollar. South Africa’s struggling state utility Eskom told parliament on Tuesday that there would be a 45-day delay in returning a generating unit online, adding further pressure to the grid during winter when scheduled power cuts across most of the country are already more than 10 hours a day.
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