The rand had its first day of losses in a week on Monday as worries about the rise in Covid-19 cases weighed on global markets while local investors await the medium-term budget policy statement (MTBPS) on Wednesday.

At 5.15pm, the rand had weakened 0.25% to R16.2267/$ while it had gained 0.21% to R19.1686/€, and was little changed at R21.1071/£. The euro had weakened 0.38% to $1.1813. The rand is down 13.5% to the dollar since the beginning of the year...

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 articles from our international business news partners; 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