Rand at record low as Covid-19 fears mount

The rand reached a record low of R18.07/$ on Wednesday morning, according to data from Infront, as fears mount about the effect of the Covid-19 outbreak.

The rand weakened along with its emerging-market peers on the day as investors worried that the virus posed a threat to the prospects of global economic growth. The rand has been the worst performing among its emerging-market peers over the past five days, according to Bloomberg data...