Rand weakens amid surge in Covid-19 cases
‘We expect volatility to remain the name of the game for the rand’, RMB analyst Siobhan Redford says
The rand was weaker on Friday morning, slipping along with its emerging-market peers, as a surge in new Covid-19 cases overshadowed sentiment about the reopening of economies.
At 10.50am, the rand had weakened 0.28% to R17.1928/$, having weakened 18% so far this year, according to data from Infront. It had weakened 0.43% to R19.3078/€ and 0.26% to R21.3349/£. The euro had firmed 0.14% to $1.2320.