Rand continues winning streak amid hopes of Covid-19 peak
Finance minister Tito Mboweni is expected to hold a briefing on SA's recent credit ratings downgrades later in the day
The rand is set for its fourth day of gains this week, its longest daily winning streak in four months as risk appetite improved amid hopes that Covid-19 may be peaking.
The local currency tested R18/$ in morning trade, strengthening to its best level in a week. At 10.36am, the rand had firmed 0.68% to R18.0652/$, strengthening to as much as R18.01 in intra-day trade. It had firmed 0.53% to R19.6405/€ and 0.58% to R22.3946/£. The euro firmed 0.16% to $1.0872.