South African rand slips as power cuts bite, GDP in focus
The South African rand weakened due to the country experiencing the worst power cuts on record and ahead of the release of second quarter GDP data.
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Posted 9/5/2023, 7:48:19 AM
reuters.com
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The South African rand weakened ahead of the BRICS summit and monthly inflation figures.
The South African rand strengthened nearly 2% against the U.S. dollar after July inflation data came in lower than expected and the dollar weakened.
The South African rand weakened as the dollar rebounded and credit extension in the country slowed more than expected.
The South African rand recovered some losses after an improvement in consumer confidence, but new data revealed a widening current account deficit.
The South African rand strengthened against the U.S. dollar as the dollar weakened and the rand recovered some ground after earlier losses caused by power cuts and a widening current account deficit.