Rand falls after SA’s record GDP plunge and on global risk-off trade

The rand fell to a more than one-week low, nearing R17/$ on Tuesday, after data showed that SA’s economic collapse in the second quarter was worse than feared.

GDP in the second quarter fell at an annualised rate of 51%, the worst on record, while the quarter-on-quarter fall came in at 16.4%.

Source: businesslive.co.za