R20 to the dollar is a possibility, says Investec Chief Economist Annabel Bishop

The rand remains weak as the commodity price slump intensifies.

The chance of South Africa slipping into a recession has increased while interest rate hikes are becoming more likely.

This is according to Annabel Bishop, Chief Economist at Investec.

Scroll down for quotes from the audio below.

The rand is a proxy for ‘risk off’.

Annabel Bishop, Chief Economist at Investec

The biggest drivers of rand weakness over the past week were global factors.

Annabel Bishop, Chief Economist at Investec

R20 to a dollar is a possibility.

Annabel Bishop, Chief Economist at Investec

A lot of investors are factoring in a sub-investment grade rating for South Africa.

Annabel Bishop, Chief Economist at Investec

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