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Rand drops to two-week low amidst capital inflow tax concerns

By Andy Rice
04 Aug 2010
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The rand has depreciated to its lowest in two weeks on speculation that South Africa may introduce measures including a tax on capital inflow to curb the strength of the rand. The discussions about the possibility of weakening the rand are contained in a document posted on the ANC's website. The rand is the second-highest performing currency since the beginning of 2009, but the ANC says these gains are hurting exports. Read more: Bloomberg

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