(Reporting by Tannur Anders Editing by Alexander Winning)
JOHANNESBURG, May 12 (Reuters) - The South African rand hit a new all-time low against the dollar on Friday,
extending steep losses from the previous day.
On Thursday the U.S. ambassador said he was confident that a
Russian ship had picked up weapons in South Africa last year.
The U.S. assertion came at a time when investor sentiment
towards South Africa had already badly soured over the worst
power cuts on record that show no sign of abating.
JPMorgan in a research note on Friday said it now forecast a
0.2% decline in South Africa's 2023 gross domestic product
versus a previous forecast for 0.3% growth, citing expectations
for deeper power cuts.
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