South African rand little changed as coronavirus cases rise faster

0 136

The South African rand was little changed early on Monday, despite health officials recording a steeper rise in coronavirus infections over the weekend.

The country reported 6,334 new cases on Sunday after reporting 7,210 new cases on Saturday, among the steepest daily rises to date.

Health experts say the local virus outbreak is yet to reach its peak, after authorities delayed a surge in infections by imposing a strict lockdown in late March.

At 0657 GMT, the rand traded at 17.24 versus the dollar, 0.1% stronger than its closing level on Friday.

The yield on the 2030 government bond was 1.5 basis points higher at 9.20%, reflecting slightly lower bond prices. – reuters

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.