25.08.2015 - South African currency hits record lows
The prospects of rising interest rates in the United States, coupled with a downturn in the Chinese economy contributed to the South African currency's record drop on Monday, said economists. The South African rand plunged to 14 rand to the dollar before recovering slightly to 13 rand as trade closed on the Johannesburg Stock Exchange. The rand was the worst affected among 25 other emerging market currencies, buckling under China's currency devaluation, reported Business Day, a financial newspaper. In the United States, the Dow Jones industrial average lost more than 1,000 points as trade began on Wall Street...............................................Full Article: Source
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