Rand likely to remain weak, says economist
An economist says South Africans need to be aware that we have a very volatile and weak currency that is likely to remain under pressure for some time.
Dawie Roodt's been speaking after the Rand dropped to a new low against the US-Dollar.
Roodt believes this is likely to carry on for some time and that the rand won't be strengthening anytime soon.
The currency stood at R17.95 to the US Dollar on Sunday night.
"We see the rand trading at unrealistic levels but I think the markets overreacted. It is possible that the market is going to overreact even more and we can see a currency at - you pick a number - but I think what is likely to happen is that the rand is likely to retrace some of these loses," he said.
(File photo)