The rand was under the psychologically important R15/$ level on Thursday morning, but barely, as markets await Friday’s latest credit-rating assessment of SA by Moody’s Investors Service.

The local currency had slumped 2.35% against the dollar on Wednesday, its worst performance in over a year, after finance minister Tito Mboweni slashed SA’s growth forecast for 2019 to 0.5% and warned the budget deficit will continue to widen.

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