MARKET WRAP: Rand at one-month low as surging Covid-19 weighs on sentiment

The rand reached its worst level in more than a month on Friday as concern about economic recovery and the rise in coronavirus cases weighed on global market sentiment. 

At 5.10pm, the rand had weakened 1.47% to R17.1818/$ while it had reached R17.27/$, its worst level since August 21. It had weakened 0.94% to R19.9679/€ and 1.19% to R21.8257/£. The euro had fallen 0.40% to $1.1622. The rand has lost 18.2% so far this year.