Rand tanks as UK red lists South Africa again amid new Covid variant

businesstech.co.za
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The rand fell to its weakest level in over a year on Thursday (25 November) on the back of the recently-discovered B.1.1529 variant and a new UK travel ban.
The rand fell to its weakest level in over a year on Thursday (25 November) on the back of the recently-discovered B.1.1529 variant and a new UK travel ban for Southern Africa.

The local unit lost a further 2.15% against the dollar on Friday morning, as markets in Asia responded to the news.

While researchers are yet to determine whether the B.1.1529 variant, discovered in Southern African countries is more transmissible or lethal than previous variants, authorities globally, have been quick to act, Bloomberg reported. The UK and Israel have temporarily banned flights from South Africa and five neighbouring countries as a precautionary measure.

UK health Secretary Sajid Javid said on Thursday that from…
Staff Writer
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