South Africa currency fears
383 views · Published 14 January 2016 · 3:26 · Indexed 29 October 2026
Channel: CGTN Africa · 2016 · News & Politics
South Africans are in for more pain as the local currency is expected to remain weak for some time. The Rand has plunged to levels never seen before. The currency spent most of 2015 in weaker territory but it was in December when the Rand took a sharp dive following President Jacob Zuma's decision to sack the then finance minister. Global economic concerns, China in particular, is also weighing heavily on the local unit.
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