This drop comes after a modest Budget Speech failed to ease concerns over the decline in the economy.
The coronavirus epidemic has also impacted the global market, restricting trade and travel in a number of countries.
Oil prices have been decreasing since January and recent times have seen the issue compounded.
The last time the currency was so weak against the dollar was back in 1980.
Briefly.co.zareported that President Cyril Ramaphosa had addressed the nation over the announcement of a technical recession.
Coincidentally, Eskom announced the return of load-shedding on Monday, implementing Stage 1 powercuts across South Africa.
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Source: Briefly News
Samantha RiddleSamantha Riddle is a former Mainstream/ Current Affairs Manager.
She covered the breaking stories and SA news from 2018-2021.
Currently, shes working for The South African.
