Rand falls after SA’s record GDP plunge and on global risk-off trade
An expected recovery in global tech stocks failed to materialise and US President Donald Trump again rattled his sabre at China over trade
BL PREMIUM
08 September 2020 – 15:51
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
