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MARKET WRAP: Rand falls for second day as investors mull SA recovery plan

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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.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.

 

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