South African currency hit by risk aversion

South Africa - A general increase in risk aversion by international investors constituted a factor which had recently cast a shadow over the South African currency rand, Reserve Bank governor Tito Mboweni said on 13 July.

Addressing a South African-German Chamber of Commerce and Industry meeting, Mboweni said the increase in risk aversion was partly explained by weaker stock markets, a deterioration in the global economy and by developments in specific emerging markets such as in Argentina and

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