MARKET WRAP: Rand firms as China reports drop in record Covid cases

The rand headed below R17 to the dollar on Tuesday after China reported decline in Covid-19 cases and moved to stamp out protests over the country’s Zero-Covid policy.

Chinese health authorities reported 38,645 cases on Tuesday, down from a record daily high of 40,347 a day earlier, according to Reuters. The rise in cases in the world’s second-biggest economy had sparked fears about further restrictions that led to protests in Shanghai, Beijing and other cities at the weekend...

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