The rand crashed to its worst level in three years.

VAAL TRIANGLE - The rand crashed to its worst level in three years. The South African currency lost more than 30-cents to the dollar shortly after the United States’ accused South Africa of arming Russia by providing ammunition through a Russian ship that docked at the Simon’s Town Naval Base in Cape Town in December. US ambassador to South Africa Reuben Brigety says America was convinced the country, despite its non-aligned stance on Russia’s invasion of Ukraine, had supplied arms to Vladimir Putin’s army. Brigety adds other concerns raised by US officials in South Africa include the country’s participation in military exercises with Russia and China during the anniversary of the invasion. Not only has load-shedding and the country’s grey-listing contributed to the rand’s woes, there are also fears the US will take economic action against South Africa.