Rand may have first day of gains in five on Fed stimulus
The number of confirmed Covid-19 cases in SA had risen to 554 on Tuesday morning
The rand was on track for its first day of gains in five, strengthening alongside its emerging-market peers on Tuesday as more stimulus measures by the US Federal Reserve aided sentiment.
The Fed announced on Monday that it would purchase an unlimited amount of US treasury bonds and mortgage-backed securities. This is one of several measures taken by the Fed in an attempt to combat the economic effects of Covid-19.