The weaker rand is a function of poor performance by the government, one analyst says
The rand declined to within a hair’s distance of the R20/$ mark on Thursday, creating an unenviable scenario in which the Reserve Bank might need to hike interest rates even further or risk allowing inflation to spiral.
While the local currency has been on a weakening path since the start of 2023 in line with dim growth prospects, its descent has gained tempo in recent weeks as reflected by 8% decline against the dollar in May...
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