South Africa’s rand weakened past R18 per dollar for the first time since May 2020, as President Cyril Ramaphosa warned that rolling blackouts aren’t going away any time soon.
The currency weakened as much as 0.9% to R18.1165 against the greenback by 11h44 in Johannesburg.
Only South Korea’s won had registered greater losses in developing-nation currencies. This month, the rand is down 6.7%, behind the won and Chile’s peso.
South…
