South Africa and other emerging market currencies fell sharply on Tuesday, after China moved to devalue its currency. China's move followed the release of weaker than expected trade data. The Rand has slumped to 12.80 against the dollar, its worst level in almost 14 years. The Rand has been under pressure in recent months reacting to a pending rate hike in the US and China's move could have added concerns. CCTV's Sumitra Nydoo reports.
- South Africa