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Rand at new 5-year low

The currency fell today to a fresh 5-year low, hitting 9.63 to the dollar. The plunge from 9.10 earlier this week came as Emerging Markets are hard hit by the global credit crunch, a world-wide recession, falling commodity prices (such as gold) and a deepening political crisis in South Africa. The prospect of a split in the ruling ANC, and a dysfunctional government in its wake, adds to the randapos;s woes.
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