Rand weakens as Bank cuts repo rate
SA Reserve Bank opts to cut the repo rate by 100 basis points
BL PREMIUM
19 March 2020 – 15:24
The rand was weaker on Thursday afternoon as the SA Reserve Bank cut the repo rate by 100 basis points amid concern about the effect of coronavirus on economic growth.
Shortly after the announcement at 3.10pm, the rand had weakened 0.84% to R17.31314/$% and 1.01% to R20.0556/£ while it had firmed 0.64% to R18.6558.
Source: businesslive.co.za
