New variant sees Rand plummet

FILE

AFP

JOHANNESBURG - The rand continues to weaken against the dollar on the back of the newly discovered coronavirus variant.

Hovering around R16,25 to the dollar, the local currency is now weaker against the dollar than it has been in more than a year.

This after news of the travel restrictions imposed by the UK and other countries on South Africa and its neighbours.

Economists say the weaker currency normally makes the country cheaper to visit but now tourists will not be able to.

Source
eNCA

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