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. ​..

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.