Rand falls by over 2% against dollar as SA confirms first coronavirus case | Fin24
  • Covid-19 Money Hub

    The hub will help answer your business and money questions during the coronavirus crisis.

  • Cigarettes

    The tobacco ban is a 'deal with the devil' that undermines transformation, say lobby groups.

  • Easing the Lockdown

    Liquor makers want bars to become drink-collection points when the alcohol ban lifts.


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

Mar 05 2020 20:12
Jan Cronje

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. 



Company Snapshot

Voting Booth

How has Covid-19 impacted your financial position?

Previous results · Suggest a vote