Johannesburg - The rand fell to a new 13 year-low against the dollar early on Wednesday, extending losses triggered by a selloff of emerging market currencies on expectations that US interests rates could rise by mid-year.
At 07:47 the rand was trading at R12.3775/$, its weakest level since January 2002, according to Thomson Reuters data.
Riskier assets have come under pressure after Friday's robust US employment data increased expectations that the Federal Reserve could raise rates as soon as June - a prospect that appeared relatively remote a few weeks prior.