Finance

Rand down nearly 9% amid poor economic data and global EM sell off, 13.9055 against the US Dollar.

JOHANNESBURG – The rand declined to a six-month low Today following economic concerns, power outages and global selloff of emerging market currencies.

06:50 local time saw 13.9055 against the US Dollar.

South Africa’s had it’s worst first quarter GDP in 9 years raising economic concerns. The national power outages have further fueled the concerns.

Following these events stocks are also down with financial institutions seeing the greater declines.