The rand has taken a tumble in late afternoon trade on Friday.
The local unit collapsed to R14.19 against the US dollar.
The local unit collapsed to R14.19 against the US dollar.
This makes it the rand's worst ever level, after previously hitting R14.15 in September.
Better than expected jobs numbers out of the United States are the main reason for the fall.
The world number one economy created 271,000 jobs in October.
Better than expected jobs numbers out of the United States are the main reason for the fall.
The world number one economy created 271,000 jobs in October.
This indicates a strengthening in the US economy, which is now likely to hike interest rates next month.
A hike in US rates means investors will begin to draw their funds out of emerging markets like South Africa, hurting the currency.
A hike in US rates means investors will begin to draw their funds out of emerging markets like South Africa, hurting the currency.
