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South African Rand Drops After The Country's Main Utility Warns Of Power Emergency

Sam RoNov 19, 2013, 20:45 IST

"Eskom declares South Africa power emergency after losing units," reports Bloomberg.

Eskom is South Africa's state-owned power utility, and it is responsible for almost all of the country's power.

According to Bloomberg, the company recently warned that the risk of blackouts across the country was at its highest level since 2008.

South Africa's currency, the rand, is falling on the latest news. Here's the move via Bloomberg:

Bloomberg