The rand was weaker on Friday, in line with its emerging-market peers, as investors worry about the prospects of the global economic recovery as the effects of the Covid-19 pandemic are evident in economic data.

Data out of the US on Thursday showed that US GDP shrunk an annualised 32.9% in the second quarter of 2020, making this the country’s steepest contraction in 73 years.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now