Rand falls by over 2% against dollar as SA confirms first coronavirus case

accreditation

The rand plunged by over 2% against the dollar on Thursday as South Africa confirmed the country’s first case of coronavirus.

The local currency opened at R15.26 against the greenback on Thursday morning and weakened to R15.59 by 19:20. 

"The rand has come under pressure as the first case of the Covid-19 coronavirus has been confirmed in South Africa," said Bianca Botes of Peregrine Treasury Solutions.

"The roller coaster ride markets are on currently is continuing. The spread of the coronovirus is causing massive uncertainty around the world. This will cause volatility and is certainly here to stay for now," said TreasuryONE. 

Earlier on Thursday Health Minister Zweli Mkhize confirmed the first case of Covid-19 coronavirus in South Africa.

Mkhize said the National Institute for Communicable Diseases had confirmed that a suspected case of COVID-19 has tested positive.

"The patient is a 38-year-old male who travelled to Italy with his wife," he said. 

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
16.49
-1.2%
Rand - Pound
19.77
+0.2%
Rand - Euro
17.10
-0.3%
Rand - Aus dollar
11.19
+0.4%
Rand - Yen
0.12
-2.0%
Gold
1,801.46
-0.3%
Silver
19.72
-2.7%
Palladium
1,960.00
+1.0%
Platinum
875.50
-2.5%
Brent-ruolie
109.03
-3.1%
Top 40
59,677
-0.7%
All Share
65,701
-0.8%
Resource 10
60,982
-4.3%
Industrial 25
80,441
+1.3%
Financial 15
14,606
-0.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot