Rand hits fresh 2012 low

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IOL world currency1 Graphic: Renjith Krishnan.

The rand fell 1.5 percent to hit a fresh 2012 low against the dollar in the afternoon session on Wednesday as the euro currency plunged below $1.26.

The local unit often tracks moves on the euro as the region is a major trading partner for South Africa. The rand was down 1.38 percent at 8.4550 at 16:41 SA time, coming off slightly from the session low of 8.4626. - Reuters

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