S.African rand recovers after officials say no arms shipment approved to Russia ...Middle East

The South African rand pared losses on Friday after officials said the country had not approved any arms shipment to Russia late last year, recovering from an all-time low on another turbulent day for South African markets. The currency has been pummelled this week by investor concerns over the worst power cuts on record that experts fear could get even worse, and a U.S. allegation that a Russian ship loaded weapons and ammunition from South Africa in December.

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