The rand fell to its worst level in three weeks on Friday, breaking above R17/$, as a rise in Covid-19 infections in a number of countries across the globe threatens economic recovery.
The effects of the Covid-19 pandemic have been evident in recent economic data, with US GDP for the second quarter dropping the most in several decades, data showed on Thursday; while numbers released on Friday showed that Spain’s economy shrank the most so far in Europe.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 Times Select.
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