MARKET WRAP: Rand falls for second day as investors mull SA recovery plan
Globally, investors remain concerned about the resurgence of Covid-19 in parts of Europe with new restrictions choking economic recovery
The rand fell for a second day on Thursday as local investors mulled President Cyril Ramaphosa’s economic recovery plan, while worries about a second wave of Covid-19 weighed on global equities.
At 5.41pm, the rand had weakened 0.83% to R16.6655/$, 0.43% to R19.4973/€ and 0.19% to R21.5299/£. The euro fell 0.39% to $1.17. The local currency has fallen 15.8% so far this year, according to data from Infront.