Emerging market stocks fell to their lowest level in more than one month on Thursday on worries of an economic slowdown in China, while South Africa’s rand
By Reuters Staff
(Updates prices, adds stocks)
JOHANNESBURG, July 12 (Reuters) - South Africa’s rand tumbled more than 2% on Monday, battered by an outbreak of violence and looting after the jailing of former president Jacob Zuma.
The government deployed soldiers on the streets to quell violence that has left at least six people dead and more than 200 arrested after Zuma was sentenced to 15 months in prison for contempt of court during an investigation into high-level corruption.
The rand slipped as much as 2.2% to 14.5025 against the dollar, close to a two-month weak point it touched in early July. It traded at 14.4175 at 1500 GMT - down 1.51% on the day.