Rand weakens amid surge in Covid-19 cases

The rand was weaker on Friday morning, slipping along with its emerging-market peers, as a surge in new Covid-19 cases overshadowed sentiment about the reopening of economies.

At 10.50am, the rand had weakened 0.28% to R17.1928/$, having weakened 18% so far this year, according to data from Infront. It had weakened 0.43% to R19.3078/€ and 0.26% to R21.3349/£. The euro had firmed 0.14% to $1.2320.