Rand takes big hit as investors worry about Godongwana speech.

On Tuesday morning, the rand approached R18.50/$ - trading at levels last seen in early 2020 as the country digested the implications of the first hard Covid-19 lockdown.
The currency is under pressure ahead of Wednesday's medium-term budget speech announcement, and has also taken a knock as riskier assets digested political developments in China, the biggest single destination for South Africa's exports.