Rand plunges further as WHO declares Covid-19 a global pandemic
‘If you are watching stock prices today in SA, brace yourselves, we will not be spared’, one analyst says
12 March 2020 - 11:40
The rand weakened more than 1% on Thursday morning as emerging-market currencies took a knock after the World Health Organisation (WHO) declared the Covid-19 a global pandemic.
The local currency weakened to as much as R16.46/$ in intraday trade, after dropping to a four-year low of R16.99 last week, as the virus has spread to 114 countries, including SA, forcing the WHO to declare the outbreak the first pandemic caused by the coronavirus...
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