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Rand hits 10 to US dollar

This is the weakest the rand has been against the dollar in over four years.

The Rand is now R10 to a dollar which will have a negative impact on the economy.

JOHANNESBURG - The rand has broken through the psychological barrier of R10 against the United States (US) dollar on Thursday afternoon.

This is the weakest the rand has been against the dollar in over four years.

Earlier this week, Statistics South Africa revealed that South Africa's gross domestic product (GDP) grew by just 0,9 percent in the first quarter of 2013, down from 2,5 percent in the fourth quarter of 2012.

Economist Mike Schüssler said the rand's weakness is bad for the economy.

"We're probably going to see higher petrol and food prices and all other things which are priced in U.S dollars all around us."