South Africa rand hits all-time low against the dollar

  24 August 2015    Read: 969
South Africa rand hits all-time low against the dollar
South Africa`s currency has fallen to an all-time low against the US dollar.
It briefly hit a rate of 14 rand to the dollar amid concerns about the strength of the Chinese economy, reports the Reuters news agency.

Economies that rely on the sale of commodities - such as South Africa`s - have been hit by the slowdown in growth in China, a major source of demand.

The problem was compounded when China unexpectedly devalued its currency earlier this month.

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