The rand reached its lowest level in more than four months on Friday as the rising death toll from the coronavirus curbed global risk sentiment.

The rand has been the worst performing among emerging-market currencies tracked by Bloomberg over the past month, down by 4.36%, followed by the Chilean peso down 4.14%. The currency’s performance has been affected by the global risk-off sentiment due to the spread of the coronavirus as well as concerns about SA’s economic trajectory ahead of the national budget speech next week. 

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