Rand hits new 11-month low, stocks firm

JOHANNESBURG - South Africa’s rand steadied in late trade on Thursday, after slipping to a new 11-month low in the session as concerns about the outlook for domestic growth and fears over a sovereign credit rating downgrade weighed on sentiment.

Poor economic data, worries about financial troubles at state-owned power firm Eskom and negative commentary from credit rating agencies have all contributed to recent rand weakness, exacerbating broader concerns about emerging markets and trade tensions between the United States and China. The uncertain growth outlook has triggered fears of a rating downgrade by Moody’s, the last of the three big international ratings agencies to have South African debt at investment grade.

Phakama Ramaphosa jou Poes..waar is jy?

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