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Thebusinessis crucial to the South African National Defence Force meeting its mandate, according to the Public Enterprises Department.
This happened just three hours after the Johannesburg Stock Exchange (JSE) opened.
The arms company Denel owes its employees R636 million and suppliers a further R900 million. Photo credit: warrenski/FlickrSource: UGC
At the time of writing this report, the rand was trading at R15.18 to the dollar.
The dollar is continuing to strengthen, thus weakening the rand.
The rand has reached its weakest level since March, according to a report by Moneyweb.
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According toSABC News, on Tuesday, trading on the JSE was delayed.
This was due to the large trading volumes that extended to a record R145 billion.
The trading still needs to be processed.
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