Currency recovers slightly after falling 2% during widespread looting
The rand stabilised on Tuesday morning, a day after President Cyril Ramaphosa beefed up law enforcement agencies in Gauteng and KwaZulu-Natal, which have been plagued by widespread looting of shopping malls.
Retailers were left counting the costs, which runs into millions of rand, according to Consumer Goods Council of SA, which represents about 9,000 members along the retail value chain. The looting has a cast a further shadow on recovery of the economy, which has been battered by fallout of the Covid-19.
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