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S.African rand hits new 20-month low as investors embrace dollar.

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With South Africans learning to live with the current cycle of stage 6 load shedding, many believe the ongoing power cuts to be the antagonist behind the weak rand. However, treasury experts say the power outages are only a small contributor to a far greater picture.

Reuters reported that the rand hit a 20-month low in trade on Tuesday touching R16.60 against the dollar amid fears of a looming global recession. And on Wednesday, the local unit continued to soften against the greenback.
7 Jul 2022 1AM English South Africa Business News · Investing

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