THE rand took a drubbing late on Friday following the release of the latest US jobs data.

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Picture: PUXLEY MAKGATHO

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At 6.25pm the local currency was at R13.84 to the dollar — its lowest level since 2001, if one excludes the recent anomalous Asian trade over R14 to the dollar.

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Nonfarm payrolls rose a seasonally adjusted 173,000 last month, the US Labour Department said. Revisions showed employers added 14,000 more jobs in June and 30,000 more jobs in July than previously estimated, Dow Jones Newswires reported.

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The unemployment rate fell to 5.1% in August from 5.3% the previous month.

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Economists surveyed by The Wall Street Journal had projected a 220,000 increase in payrolls and a drop in the unemployment rate to 5.2%, the newswire said.

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