South African Rand Declines in Week on Global Recession Concern

By Vernon Wessels
Dec. 6 (Bloomberg) -- South Africa’s rand fell against the dollar this past week as the stock market declined with those around the world on concern the global economy is headed toward a recession.
The rand weakened as the country’s benchmark index of equities fell in the week by the most since October on concern slumping economies in the U.S. and euro region will erode demand for higher-yielding emerging-market assets. South Africa’s currency also slipped after reports showed manufacturing shrank at the fastest pace in at least nine years in November.