{"id":382795,"date":"2020-03-18T14:16:29","date_gmt":"2020-03-18T12:16:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=382795"},"modified":"2020-03-18T14:16:29","modified_gmt":"2020-03-18T12:16:29","slug":"rand-hits-over-r17-to-the-dollar-as-it-faces-weakest-close-on-record","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/382795\/rand-hits-over-r17-to-the-dollar-as-it-faces-weakest-close-on-record\/","title":{"rendered":"Rand hits over R17 to the dollar as it faces weakest close on record"},"content":{"rendered":"

South Africa\u2019s rand breached its weakest closing level on record on Wednesday as investors priced in the probability of a central-bank rate cut amid the global risk sell-off.<\/p>\n

The currency of Africa\u2019s most-industrialized country weakened as much as 2.5% to 17.0396 per dollar, surpassing the R16.8717 closing level of 18 January 2016.<\/p>\n

It\u2019s still some way off the intraday weakest level of 17.9169 reached during a\u00a0\u201cflash crash\u201d<\/a>\u00a0in Asian trading hours that same month.<\/p>\n

Money markets are pricing in 53 basis points of easing by the South African Reserve Bank on Thursday, even after data showed consumer inflation climbed above the 4.5% midpoint of the target range for the first time in 15 months in February. The plunge in oil prices should moderate price increases in March.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Rand edges closer to R17 to the dollar as coronavirus cases double in a day in South Afric<\/a>a<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa\u2019s rand breached its weakest closing level on record on Wednesday as investors priced in the probability of a central-bank rate cut amid the global risk sell-off.<\/p>\n","protected":false},"author":59,"featured_media":114834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26],"class_list":["post-382795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/382795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=382795"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/382795\/revisions"}],"predecessor-version":[{"id":382805,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/382795\/revisions\/382805"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/114834"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=382795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=382795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=382795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}