Sa rand plummets
Rand weaker as downgrade fears dim demand
The rand dived to a 12-month low on Friday on reports President Jacob Zuma government was considering a range of budget cuts to pay for free tertiary education.
The rand was also hit by some selling on technical factors as it broke through the R13.1000 support ahead of a bank holiday on Thursday.
Asian stocks looked vulnerable to another sell-off on Tuesday
The currecy fell more than 1% to its weakest in two months against the dollar on Monday.
The currency was almost one percent weaker in early trade on Thursday morning.