BLBG: Rand Drops Against Dollar as China Raises Reserve Requirements for Banks
South Africa’s rand weakened against the dollar after China’s central bank said it will raise the reserve requirement ratio for the nation’s banks by 50 basis points from Jan. 20.
The currency of Africa’s largest economy fell as much as 0.9 percent against the dollar to 6.8773 was trading at 6.8759 as of 12:04 p.m. Johannesburg time.
