Rand loses against other emerging currencies

rand down2 - Rand loses against other emerging currencies

The rand extended losses alongside other emerging market currencies on uncertainties of a slowdown in global economic growth.

The local currency is in for an unpredictable week mostly due to the SA Reserve Bank’s interest rate decision later during this week and Moody’s anticipated credit rating announcement on Friday.

Experts believe that the ratings agency will keep its outlook for the country unchanged despite the recent stints of load shedding and concerns over emerging markets.

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