The rand was weaker on Thursday, along with its emerging-market peers, with appetite for riskier assets waning as investors consider the state of US politics and rising Covid-19 cases.

The rand was on track for its second day of losses, reaching an intraday worst of R16.7162/$, according to Infront data. At 10.35am, it had weakened 0.91% to R16.6785/$, 0.58% to R19.5282/€ and 0.64% to R21.6265/£.

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 Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now