Rand buckling under pressure

The Rand is under enormous pressure, mainly due to international factors such as tensions between China and the US, as well the chaotic Brexit situation. (Currently R15.27/USD)

Locally, time is running out for the government to avoid a Moody’s downgrade in November (Review is scheduled for November 1.). Recent bail-outs of Denel, SAA and SABC will not sit well with the ratings agency, and nothing significant has happened with the Eskom situation. Some folks have already accepted a downgrade as inevitable.
However, a recent Bloomberg survey indicated that the majority of people polled believe that we will not be downgraded as our outlook is stable and not negative, and Moody’s rarely does a ‘double drop’. We will certainly know in a few weeks from now.
Protect the value of your money today, buy Bullion!

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