Rand fall and fuel prices rise after government’s reckless statements about land expropriation
The poor performance of the Rand is definitely not good news for motorists.
The Rand fell more than 8%, partly due to the mess on the Turkish financial markets.
Although the oil price is relatively stable and even slightly lower, the weak rand will push the fuel price upward.
The rand also visibly weakened after Gwede Mantashe once again ravaged the land-based issue.
Economists warn that the current financial condition of South Africa is close to a recession.