Rand weakens slightly behind US dollar

✔ Fact Checked by TDPel News Desk

By Samantha Allen

Published: April 22, 2022 | 3:41 PM GMT

The rand has traded at a relatively strong level around R14.50 to the dollar for the past three weeks, despite a strong dollar, which usually weakens the rand.

The dollar’s strength can be attributed to higher and quicker interest rate rises in the US, which attract demand for the dollar.

However, so far today, the rand has weakened by nearly 2%, catching up with the stronger dollar and is trading around R15.60 in early JSE trade.

This comes after the rand was still trading below R15 to the dollar during yesterday’s session.

Besides dollar strength, the rand’s newfound weakness can also be blamed on Eskom’s recent rolling blackouts and the floods in KwaZulu-Natal, which have dented economic growth prospects.

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About Samantha Allen

Samantha Allen is a seasoned journalist and senior correspondent at TDPel Media, specializing in the intersection of maternal health, clinical wellness, and public policy. With a background in investigative reporting and a passion for data-driven storytelling, Samantha has become a trusted voice for expectant mothers and healthcare advocates worldwide. Her work focuses on translating complex medical research into actionable insights, covering everything from prenatal fitness and neonatal care to the socioeconomic impacts of healthcare legislation. At TDPel Media, Samantha leads the agency's health analytics desk, ensuring that every report is grounded in accuracy, empathy, and scientific integrity. When she isn't in the newsroom, she is an advocate for community-led wellness initiatives and an avid explorer of California’s coastal trails.