A file picture shows the South African twenty rand note.
A file picture shows the South African twenty rand note. REUTERS

South Africa's rand traded more than three percent lower against the dollar on Tuesday as investors fled riskier assets around the globe.

The rand traded 3.28 percent weaker at 7.4150 against the dollar at 0928 GMT after touching 7.50 during the session, it's weakest in more than one year.

The currency closed at 7.1890 in New York on Monday.

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