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Covid19 new variant is affecting Rand against US Dollar hovering around R16.25 per dollar: Reports


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According to eNCA, 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.

With the new covid19 variant detected in South Africa this week, South Africa is going to loose many things that it was trying to recover from the last pandemic. It has been stated that SA airlines had been banned from accessing Uk and Singapore.

This means no more business from South Africa to Uk and investors will be lost, meaning less revenue to our government income. More long term loans by South African government in order to stabilize the inflation rate.

This is really bad for the South African currency as it would loose the value again.

What are you looking forward from coronavirus council?

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Content created and supplied by: Limpopo-Goal-News (via Opera News )

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