South Africa's rand tumbles to all-time low

The currency has been under sustained pressure lately and is one of the worst hit out of 25 emerging market peers as jittery investors dispose of high-risk assets in the wake of slowing economic growth in China. South Africa's central bank issued a statement saying it would consider intervening in the foreign exchange market "to ensure orderly market conditions". "Developments in South African markets in recent days are largely a response to external factors," it added.