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| South Africa rand hits all-time low against the dollar | South Africa rand hits all-time low against the dollar |
| (about 1 hour later) | |
| South Africa's currency has fallen to an all-time low against the US dollar. | South Africa's currency has fallen to an all-time low against the US dollar. |
| It briefly hit a rate of 14 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. | 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. | The problem was compounded when China unexpectedly devalued its currency earlier this month. |
| The rand is particularly vulnerable because it is one of the globe's most highly traded emerging market currencies, South African economist Martyn Davies told the BBC. | |
| He added that South Africa's central bank will find it hard to defend the currency against a slide in value, instead the government needs to address some of the fundamental economic issues such as the problems in the power sector. | |
| Impact felt elsewhere | |
| Several other African currencies have been under pressure in recent weeks over fears of a Chinese economic slowdown. | |
| With oil currently hovering around $40 (£25) a barrel, there are concerns about the prospects for oil-based economies, especially Nigeria and Angola. | |
| The relative strength of the US dollar has also had an affect on - among others - the Zambian kwacha and the Ugandan shilling, which have both hit record lows in the past week. |