Business News

Rand weakens as Eskom announces load shedding

SABC Rand REUTERS - Rand weakens as Eskom announces load shedding

The rand has weakened by around 1% to R15 to the dollar ahead of the opening of the Johannesburg Stock Exchange.

This is mainly due to power utility Eskom announcing that power cuts are likely on Wednesday.

This is negative for investor sentiment as reflected by a weaker rand against a basket of major currencies; despite the dollar trading slightly weaker, which would usually strengthen the rand.

The post Rand weakens as Eskom announces load shedding appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Leave a Reply

Your email address will not be published. Required fields are marked *