The rand slumped to an all-time low of 20.0427 against the British pound, marking losses of more than 2.5% in the week and nearly 10% since May.
A devalued rand has many unfortunate knock-on consequences for SA consumers. As the rand weakens, so interest rates rise, hurting small businesses, home owners and indebted citizens.
Speaking to Xolani Gwala on 702, Chief Economist at Nedbank, Dennis Dykes said "China depreciating their currency is a concern, it indicates the economy is under more pressure".
Xolani and Dykes discuss the principal factors that affect the country with to the weak rand: