S. Africa Rand Weakens to Record After Finance Minister Removed

South Africa’s rand weakened through 15 against the U.S. dollar for the first time after President Jacob Zuma removed Finance Minister Nhlanhla Nene from his post.

The rand traded as much as 5.4 percent lower at a record 15.3857 and was 3.6 percent weaker as of 9:08 p.m. in Johannesburg on Wednesday.

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