The rand has hit a new all-time low on Friday.
It's now 40 percent weaker to the US dollar compared to the same time last year.
The local currency is one of many emerging markets currencies hit by the investor panic of the COVID-19 pandemic.
But domestically, the rand is also under pressure following Moody’s downgrade of South Africa to subinvestment grade last week.
A weaker rand will make imports more expensive and stoke inflation.
via - ENCA
SOUTH AFRICA - FRIDAY SEES RAND HIT ALL-TIME LOW AMIDST MOODY DOWNGRADE AND A WORLDWIDE PANDEMIC
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Reviewed by MHM Marketing & Design
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21:42:00
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