The SA rand (ZAR) fell nearly 1% against the US dollar yesterday (Thursday) – as continuing worries about China's economy led to an emerging market sell-off.
According to Business Report, the rand was also victim to SA’s weak economic fundamentals – with a survey this week showing that private sector activity shrank at a faster pace in December, with output dropping.
On Wednesday in New York the rand fell to a low of R16.0050/1US$, close to the all-time low of 16.0485 reached in mid-December after President Jacob Zuma fired finance minister Nhlanhla Nene.
By the close of the day, however, this had eased back to 15.9555 to the greenback.
