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.
Analysis-Violence gives South African markets a reality check
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Analysis: Violence gives South African markets a reality check
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
EMERGING MARKETS-S.African rand rises before central bank meet, EMFX edges up Reuters 2 hrs ago
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By Ambar Warrick
May 20 (Reuters) - South Africa s rand ticked higher on Thursday ahead of a central bank meeting, while most other emerging market currencies rose slightly, even as hints of eventual policy tightening from the Federal Reserve clouded their outlook.
The rand added about 0.3%, with the central bank widely expected to hold rates at a record-low 3.5% later in the day. But rising inflation expectations, as well as eventual Fed tightening are expected to push the bank into hiking rates.