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The South African rand strengthened on Tuesday as the dollar weakened, trading at 16.0300 per dollar, 0.68% firmer. Moderna's chief executive said COVID-19 vaccines may be less effective against the Omicron variant.
The rand had plunged to its weakest since October 2020 the previous Friday on the variant news.
A firmer rand lowers the local-currency cost of South African imports and makes the dollar cheaper for importers. Sentiment toward emerging-market currencies remains fragile while Omicron uncertainty persists.
reuters.comNov 30, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
