Rand hits fresh 14-year low as economy struggles
05 August 2015 - 11:04
South Africa's rand touched a fresh 14-year low against the dollar on Wednesday amid concerns about the ailing local economy and after a US Federal Reserve official backed a US rate hike next month. Investors are worried that growth in Africa's most advanced economy has remained subdued since a 2009 recession with output seen below 2 percent this year, partly due to the worst electricity crisis in seven years.
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