THE UGLY

Finweek English Edition - - IN BRIEF - “I will go un­der ex­treme cir­cum­stances. I be­lieve the peo­ple of South Africa have to pro­tect this of­fice. I am in this of­fice tem­po­rar­ily. If the peo­ple of South Africa feel that the con­sti­tu­tion is be­ing tram­pled on... let the peo­ple do some­thing about i

The rand reached its weak­est level in al­most 14 years against the dol­lar on 5 Au­gust, drop­ping to R12.80. Ac­cord­ing to Bloomberg data, it was the weak­est it has been since De­cem­ber 2001. Emerg­ing mar­ket cur­ren­cies have come un­der fire as com­mod­ity ex­porters have strug­gled due to the slow­down in China and a rate hike is ex­pected in the US next month, mak­ing de­vel­oped mar­ket as­sets more at­trac­tive. So fas­ten your seat­belts as we head to­wards R13 against the dol­lar.

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