The rand hammered to lowest level since 2016
The rand plunged by almost 8% against the dollar on Monday, almost touching R17/$, as investors fled riskier assets, with tumbling oil prices adding to nervousness spurred by the spreading coronavirus. While global sentiment was the largest factor in the rand’s performance - with the currency seen as a proxy for its emerging-market peers - local factors including renewed rolling power cuts by Eskom and a downbeat assessment by Moody’s […]
