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South African Rand Drops To 1-1/2-month Low Against U.S. Dollar

The South African Rand lost ground against the U.S. dollar in the European session on Tuesday, as investor fear that the coronavirus outbreak in China will have a negative impact on the economy.

The South African Rand dropped to a 1-1/2-month low of 14.71 against the greenback from Monday’s closing value of 14.61. The currency is seen finding support around the 15.5 mark.

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