The rand was weaker on Monday morning, above the R15/$ level, as the world battles with the effects of the coronavirus outbreak and investors await the budget speech on Wednesday.

The local currency got off to a weak start on Monday, and was the second-worst performing currency among its emerging-market peers.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now