Rand weakens by more than 1% as protests continue

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South Africa’s rand tumbled on Monday as violence broke out after the jailing of former president Jacob Zuma, while most emerging market stocks and currencies appeared to have stabilised after losses last week.

The rand sank more than 1% to a low of 14.3658 to the dollar, leading to losses across emerging market currencies.

Violence over Zuma’s 15-month prison term spread to Johannesburg over the weekend, resulting in property damage and road closures.

Shops looted, burned in Pietermaritzburg:

Ongoing protests

South African government intelligence body – National Joint Operational and Intelligence Structure (NatJOINTS), said on Monday that six people had been killed in KwaZulu-Natal and Gauteng provinces during the pro-Zuma protests.

The unrest erupted shortly after Zuma started serving a 15-month sentence for contempt of court on Wednesday night.

NatJOINTS added in a statement that 219 arrests had been made on Monday.

Police make arrests in Vosloorus following looting: