South African rand weakens amid fresh power cuts

Monday was a gloomy day for South Africa’s currency as the country resumed power cuts over the weekend.

The rand was trading at 14.35 to the U.S. dollar when markets opened.

This represents a depreciation of 0.35% as at close of markets in New York on Friday.

The reaction of the South African currency comes as businesses express fear over a new wave of power cuts in South Africa.

The national electricity company, Eskom is struggling to reassure the business community.

Beyond the domesti…
READ MORE : http://www.africanews.com/2020/01/06/south-african-rand-weakens-amid-fresh-power-cuts

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