Rand Under Pressure As A Result Of Loadshedding
Written by Mduduzi Phungula on 22 September, 2022
By: Bright Ntuli
Market analysts have warned that the rand is under pressure as a result of rolling blackouts.
Analysts say the implementation of load shedding has dealt a serious blow to an economy that is already struggling with low growth.
Adding that the lack of decisive action on the part of the government to make the necessary interventions to attract investment and put the country on a sustainable and inclusive growth path is also not helping.
The local currency has been close to the R18.00 mark against the US dollar in the past few days, as Eskom implemented stage 6 load-shedding.
Economist Daniel Sike says the last time the rand was at this level, was in May 2020.
powered by Advanced iFrame. Get the Pro version on CodeCanyon.
