Falling SA rand hammers ailing Zimbabwe
[caption id="attachment_166643" align="alignnone" width="300"] A weakening rand affect the competitiveness of local products in SA, as Zimbabwean exports would be more expensive than goods coming from the other end.[/caption] THE alarming fall of the South African rand against major currencies — over the past few months — is likely to hit Zimbabwe’s ailing economy hard. Although Harare continues to resist local industry’s impassioned pleas to adopt Pretoria’s medium of exchange as the country’s primary currency, its performance has always had a bearing on the local economy as well as region. The rand fell to a fresh six-month low against the American dollar — at R13-plus last Friday and at the end of another bruising week for South Africa (SA)’s stuttering…
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