The South African rand was weaker in early trade on Tuesday as the country suffered the worst power cuts on record, ahead of the release of second quarter gross domestic product (GDP) data.
At 0610 GMT, the rand traded at 19.1900 against the dollar , nearly 0.3% weaker than its previous close."With the U.S. closed ... most markets were stable, except the rand that fell sharply," said Rand Merchant Bank analysts in a research note.
The rand tumbled after South Africa's struggling state utility Eskom reinstated the worst rolling blackouts on record, which mean up to 12 hours of power cuts for most households per day.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meet the South African songwriter nominated for a Country Music AwardYeehaw! His name is Gareth James, and he’s a homegrown Country music star representing Mzansi on the world stage.
Read more »
Pnet is streamlining the recruitment process for South African SMEsAs a small- or medium-sized business owner, chances are you’ll be looking for the right candidate at the right price – either now or sometime in future.
Read more »
R200-million funding for South African SKA engineersStellenbosch-based engineers have received a R200-million contract to produce 60 receivers for the SKA radio telescope.
Read more »