Johannesburg - South Africa's rand tumbled as much as four percent early on Wednesday along with other emerging market currencies as Donald Trump took the lead in the US presidential election.
By 8.50am, the rand had slumped 3 percent to 13.5850 per dollar after falling to a session low of 13.8300, its weakest since October 31.
Before paring its losses, the rand recorded its largest fall in a single session since June 24, when Britain voted to leave the European Union.
Traders say the unit could hit the 14.00/$ psychological level if Trump wins the election.
Stocks were set to open lower, with the JSE securities exchange's Top-40 futures index down 2.4 percent.
In fixed income, the yield for the benchmark government bond due in 2026 rises 9 basis points to 8.75 percent.
REUTERS