South Africa’s rand eased one percent to fresh six year lows against the US dollar.
Moody's says the downgrades reflect the deterioration of South Africa's credit profile.
Moody’s agency downgraded South Africa's rating by one notch.
Peter Attard Montalto explains what lead to the downgrade on South Africa’s credit rating.
South African bank shares fell 2 percent on Wednesday after a credit ratings downgrade.
The SARB says it doesn't agree with Moody's downgrading of the country's top four banks.