Rand Drops as Violent South African Protests Add to Budget Woes

Updated on
  • Rand leads losses among emerging market, major currencies
  • Nedbank's Nalla sees more weakness if protests escalate

Student protests in Pretoria.

Photographer: Stefan Heunis/AFP via Getty Images

South Africa’s rand fell for its biggest weekly decline in a month and bonds tumbled as protests marred by violence added to negative sentiment after Finance Minister Nhlanhla Nene’s budget painted a bleak picture of government finances and the economy.

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