Rand hammered by speculators as crisis escalates


JOHANNESBURG -- The South African rand continued to be the subject of speculative attacks last week, triggering a 12% weekly drop in the currency by Thursday last week (December 6).

The continuing slide of the currency left it 45% lower against the dollar this year, and has led some economists to label the speculators "nothing more than economic terrorists".

Last week alone the battered currency fell from R10.27 per US dollar to R11.18, and some local market participants told FX Week the rand

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: