SA’s dire economic position was thrown into stark relief on Tuesday with Stats SA revealing that the economy shrank by an annualised 51% during the second quarter, the worst quarterly collapse on record.

After opening on Tuesday morning at just above the R16.7/$ mark, at 1.14pm the rand had weakened 1.14% to R16.9245/$, its worst one-day drop since August 31. ​..

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