THE rand continued to lose ground against the major currencies in evening trade on Tuesday, amid ongoing violence and looting in areas of KwaZulu-Natal and Gauteng.
It follows the arrest of former president, Jacob Zuma on July 7, to begin a 15-month sentence for contempt of court.
The currency lost in excess of two percent against the dollar in mid-afternoon trade on Tuesday, having lost 1,6 percent on Monday.
Dollar/Rand traded R14.54 (2,21%)
Pound/Rand: R20.15 (1.90%)
Euro/Rand: R17.23 (1.99%)
Treasury said that the continuation of Monday’s chaotic events could see the rand weaken further, with recovery hinging on restored order and calm