I live in South Africa , and in the last week the South African rand dropped from around R14.80 to the dollar to R16.60 to the dollar. What I would like to know is why?
So I looked around on the web and mostly So Called financial guru's are blaming the corona virus. In my opinion I can't see how. Yes if they say its because of Load shedding and most of the world perhaps don't know what load shedding is. It is when our electricity supplier is not able to offer adequate power to light up the entire South Africa they cut of some electricity for 2 to 4 hours changing from area to area. This may be the cause of lost in manufacturing and business and yes this might have investor pulling out their money.
Another possibility in my opinion could be that the corrupt politicians . Where most of our taxes are being stolen . This making it difficult to obtain basic needs .
please let me know what you feel