The rand snapped a five-day winning streak as SA entered its third week under national lockdown and uncertainty over the economic effect of the Covid-19 outbreak continued to dominate global sentiment.
After initially gaining to trade below R18/$, the SA currency weakened 1% to R18.15/$ during the day as its emerging-market peers also weakened, as hope that the spread of Covid-19 will soon peak fades. The rand tends to suffer in times of global turmoil as investors search for safety in developed-country assets such as US treasuries...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.