The rand weakened to its lowest level in more than three weeks on Thursday morning as investors digested the supplementary budget while global markets monitor the prospects Covid-19 cases continuing to surge.

At 11.am, the rand had weakened 0.26% to R17.4476/$ after reaching R17.53/$ its lowest level since June 1 during intra-day trade. It had weakened 0.13% to R19.5867/€ and 0.49% to R21.7103/£. The euro had weakened 0.23% to $1.1227. 

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