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South African rand hits all-time low against dollar

by ChemOrbis Editorial Team -
  • 25/08/2015 (15:17)
According to media reports, South Africa’s currency, the rand, hit an all-time low and stocks fell sharply due to concerns about the slowdown of the Chinese economy.

The rand briefly dropped below 14 per dollar before paring its losses, posting the biggest daily loss in 19 months and hitting an all-time low. South Africa’s central bank reportedly stated that excessive rand volatility is a concern and that they might intervene in the markets in order to stabilize the currency.
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