| The South African rand fell to a record low Wednesday after the government removed Finance Minister Nhlanhla Nene, who was well-respected by the international financial community, from his position, market strategists said.
The rand -0.4235% traded as low as 15.40 to the dollar, a more than 4% drop from 14.60 a day earlier, according to FactSet data. The decline represents the rand’s largest one-day move since October 2008. The move was first reported by Bloomberg News. Government officials said Nene would be moved to another post, according to reports. It was unclear what that post would be...............................................Full Article: Source
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