Rand weakens amid growing number of Covid-19 cases globally

The rand was weaker on Tuesday in line with emerging-market currencies, as a resurgence in global Covid-19 cases continued to put pressure on investor risk appetite.

The rand strengthened below R17/$ on Monday, as investor appetite for riskier assets rose. However, it retreated this morning as the total number of coronavirus cases globally continued to drive sentiment.

Source: businesslive.co.za