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The rand fell to a 12-week low against the dollar after the WHO declared the coronavirus a global emergency. State utility Eskom said nationwide blackouts would continue as it carried out maintenance on its coal fleet.
The rand lost nearly 4% over the week, the worst among emerging market peers.
A weaker rand raises the local cost of imported feed inputs such as soybean meal and corn for South African buyers. Virus-driven risk aversion and reduced demand for commodity exports also weigh on the currency.
moneyweb.co.zaMfuneko Toyana, Emma Rumney, ReutersJan 31, 2020Not 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.
