Rand weaker ahead of possible junk status rating

The rand was weaker on Friday ahead of the much anticipated Moody’s Investors Service credit rating review scheduled for later in the day, as SA enters its 21-day national lockdown and reports its first Covid-19 deaths.

The rand was under pressure on Friday, reaching a high of R17.57/$ during the day, as investors turn their focus on Moody’s Investors Service’s decision on SA’s credit review rating.