Economists have suggested that despite the weakness in the rand and domestic stocks triggered by US recession fears , the economy remains relatively stable.
South African stocks were affected by the global market selloff, with all sectors on the local exchange experiencing significant declines.
The resources sector was the worst hit given its vulnerability to international markets.
At the close of trading yesterday, the rand came in weaker at R18,57 to the US dollar.
The rand continued its weakness following a risk-off environment by global equities.
