Load shedding weakens rand by a percentage
Updated | By Newswatch
Eskom's load shedding announcement caused the Rand to weaken by 1 per cent.

An economist says investor confidence dipped when news broke on Friday that stage 3 of the rolling blackouts would resume after 10 months.
Eskom says it is working to replenish reserves after multiple trips at two power stations.
Harry Scherzer, who is with Future Forex, says the Rand has been benefiting from the stable supply of power.
"Markets tend to react swiftly to uncertainty and given Eskom's central role in South Africa's economy any sign of back-siding empower stability triggers risk-off sentiment. Investors are particularly wary of the structural issues resurfacing - fearing this could impact growth forecasts and on the rands outlook. Well Eskom frames this as a temporary setback, markets will be watching closely how quickly emergency reserves are replenished."
Find us on social media
Follow the ECR Newswatch WhatsApp channel here

Show's Stories
-
Songwriting in the Park: Nandipha's visionary brainchild
Meet Nandipha, the creative genius behind Songwriting in the Park, where...
Stacey & J Sbu 8 hours ago -
Thief meets his match in fellow South African... in Germany!
You won't believe what happens when a South African man is approached by...
Stacey & J Sbu 11 hours ago