Rand weakens amid growing number of Covid-19 cases globally
The rand came under pressure as the resurgence of virus numbers saw the dollar gain some momentum as a safe-haven asset
The rand was weaker on Tuesday in line with emerging-market currencies, as a resurgence in global Covid-19 cases continued to put pressure on investor risk appetite.
The rand strengthened below R17/$ on Monday, as investor appetite for riskier assets rose. However, it retreated on Tuesday morning as the total number of coronavirus cases globally continued to drive sentiment.