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South African rand hits new Covid horrors, varieties

South African rand.

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The South African rand on Friday plunged against the dollar after new variants with many mutations were detected domestically.

During Friday’s Asian trading hours, the currency fell to 16.2391 against the greenback and finally to 16.2215 per dollar, down about 1.6%.

The loss was caused by investors rushing towards a safe currency such as the Japanese yen. The Japanese yen rose about 0.6% against the greenback to 114.69 per dollar. The US dollar index, which tracks greenbacks against peers, was 96.712, compared to the level below 96.5 seen earlier this week.

World Health Organization officials said Thursday that they are monitoring new mutants with numerous mutations in the peaplomer, a part of the virus that binds to cells in the body. Health agencies are planning a special meeting on Friday to discuss what that means for vaccines and treatment.

According to WHO, a subspecies called B.1.1.529 has been found in small numbers in South Africa.

“We don’t know much about this yet. What we know is that there are many mutations in this variant. And so many mutations affect the behavior of the virus. “WHO technical lead on Covid-19, Dr. Maria Van Kerkhove, said in a live-streamed Q & A on the organization’s social media channels.

Hours after the announcement, the UK announced that it would temporarily suspend flights from six African countries.

— CNBC’s Hannah Miao contributed to this report.

South African rand hits new Covid horrors, varieties

Source link South African rand hits new Covid horrors, varieties

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