South African rand takes a hit on fears of new Covid variant with many mutations

south african rand takes a hit on fears of new covid variant with many mutations

Sumary of South African rand takes a hit on fears of new Covid variant with many mutations:

  • RapidEye | iStock | Getty ImagesThe South African rand on Friday fell sharply against the dollar after a new variant with many mutations was detected in the country.
  • “This fundamental news of the new variant in [South] Africa, combined with thin liquidity in Asia, is definitely driving part of that price action,” said Adarsh Sinha, co-head of Asia rates and foreign exchange strategy at Bank of America Securities.
  • World Health Organization officials said Thursday they are monitoring a new variant with numerous mutations to the spike protein — the part of the virus that binds to cells in the body.
  • The health agency is scheduling a special meeting Friday to discuss what it may mean for vaccines and treatments.
  • 1.1.529, has been detected in South Africa in small numbers, according to the WHO.

Want to know more click here go to source.

From -


Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.