People queue to buy goods in Alexandra Mall, on March 28, 2020, during the second day of the 21 day national lockdown announced by South African President, Cyril Ramaphosa, to combat the spread of the Covid-19 coronavirus outbreak. — AFP pic
The downturn in the currency came after the credit rating agency cut its rating for South Africa late Friday to Ba1, below investment grade, citing a “continuing deterioration in fiscal strength and structurally very weak growth”. “The ZAR has been the worst performing emerging market currency over the past week and traded at its weakest level ever at R18.05 in Asia early this morning,” said Wichard Cilliers, head of dealing at TreasuryONE, a South African private financial advisory firm.
Moody’s downgrade late on Friday came as South Africa began a three-week nationwide lockdown to try to halt the rapid spread of the novel coronavirus, which has killed two people and infected more than 1,280 people in the country.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa arrests cop for killing lockdown flouterThree children were also wounded during the attack on Sunday. FMTNews Lockdown
Source: fmtoday - 🏆 5. / 72 Read more »
S. Africa to conduct door-to-door Covid-19 screening | The Malaysian InsightCountry has 1,326 infections – the highest toll in Africa – with three deaths.
Source: msianinsight - 🏆 8. / 63 Read more »
Africa needs US$100 bil to bolster virus preventative measuresAfrica’s hospital systems are so weak the pandemic is going break it. FMTNews Covid19Africa It'll overwhelm all countries's health system as these viruses lethal and contagious!
Source: fmtoday - 🏆 5. / 72 Read more »
China slashes rate, pumps US$7b into market to counter Covid-19 | Malay MailBEIJING, March 30 — China’s central bank today cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (RM30.6 billion) into the financial system to help the world’s second-largest economy weather the coronavirus impact. The People’s Bank of...
Source: malaymail - 🏆 1. / 86 Read more »
Juventus players agree to take pay reduction in €90m cost cut | Malay MailMILAN, March 29 — Juventus on Saturday announced that they had cut their players’ and coach Maurizio Sarri’s salaries after all Italian sport was suspended until at least April 3 due to the coronavirus pandemic. “The economic and financial effects of the understanding reached are positive...
Source: malaymail - 🏆 1. / 86 Read more »
Singapore records one more Covid-19 death | Malay MailSINGAPORE, March 29 — Singapore’s Ministry of Health (MoH) has confirmed that a patient has passed away from complications due to Covid-19 infection today. In a statement here, MoH said he was a 70-year-old male Singaporean with no recent travel history to affected countries and regions. The...
Source: malaymail - 🏆 1. / 86 Read more »