The South African rand is getting destroyed

The South African rand is getting destroyed.
The currency is down by 4.1% at 14.3757 per dollar as of 12:02 p.m. ET.
The rand's plunge follows earlier reports that prosecutors issued South Africa's Finance Minister Pravin Gordhan with a formal summons to appear in court on fraud charges in November.
"The National Prosecuting Authority denies that charges – which date back to Mr. Gordhan’s 1999-2009 stint as head of the South African Revenue Service – are pol