South African Rand Weakens to Record Low on China as Stocks Fall

The rand weakened to a record and South African stocks fell to three-week lows on concern slowing growth in China will weigh on the continent’s second-largest economy.

The currency declined 1.7 percent to 16.1417 per dollar by 10:45 a.m. in Johannesburg on Thursday, the most among 31 emerging market and major currencies tracked by Bloomberg. The FTSE/JSE Africa All Share Index slipped 2.5 percent to 47,877.48, falling for a second day to the lowest since Dec. 14.

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