Costs to rise as rand takes a beating

Monday, 24 August 2015, 10:32
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Costs to rise as rand takes a beating
The fallout on global stock markets and South Africa's current account deficit have been cited as driving factors behind a further plummet in the rand.
NATIONAL NEWS - The fallout on global stock markets and South Africa's current account deficit have been cited as driving factors behind a further plummet in the rand.

This morning, the local currency has been hovering around the 20.85 mark against the pound after reaching a record low earlier this month.

The rand is at 13.27 to the US dollar and 15.22 to the euro.

Investment Solutions economist Chris Hart said there is also a withdrawal of capital from emerging economies.

With further pressure expected, food prices and inflation rates could be affected by the plunge.
 

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