The rand fell by 20c against the dollar between Tuesday and Wednesday, after the Turkish lira’s poor performance affected all emerging market currencies and the US Federal Reserve became hawkish. The lira fell after the country’s recent downgrade to junk credit status and the rand moved down in “sympathyâ€� with other emerging market currencies, according to Umkhulu Consulting analyst Adam Phillips on Wednesday. Other factors forcing the rand from R13.60/$ to R13.80/$ was the “growing realisation …
Source: www.engineeringnews.co.za
Rand drops alongside emerging market currencies
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