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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