Rand weaker as effects of Covid-19 are seen in economic data
The rand slipped to a three-week low, reaching an intraday low of R16.99/$, data from Infront shows
31 July 2020 - 11:55
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...
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