Rand records steepest drop in 10 years

South Africa’s rand has had a torrid weekend, with the currency dropping over 4% lower to the US dollar as of Monday morning.

What’s worse is that all the promise and potential rallied around President Cyril Ramaphosa has done little to alleviate foreign investor concern, nor has it been able to negate trade wars and general instability surrounding emerging markets.

Political infighting, severely indebted state-owned enterprises and the controversial land expropriation bill have all resulted in a 15% drop in South Africa’s currency against the ever-strengthening American greenback.

While the above mentioned local stumbling blocks have had a definitively negative impact on the rand, analysts point to global factors which compound the issue of an uneasy…

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