Rand close to record low amid power crisis, dollar strength
The rand, which has been pummelled in recent days by concerns around a burgeoning power crisis and weak economic data, fell almost a percent against the dollar on Thursday.
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The rand, which has been pummelled in recent days by concerns around a burgeoning power crisis and weak economic data, fell almost a percent against the dollar on Thursday.
Emerging market currencies inched lower against a firm dollar on Thursday, with the Chinese yuan hitting a five-month low on concerns around the country's uneven economic recovery, while Turkey's lira weakened further, nudging closer to all-time lows.
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Emerging market currencies and stocks were subdued on Tuesday, as many traders returned after a long weekend to digest mixed factory activity data ahead of the U.S. Federal Reserve's rate decision this week.