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Brexit to impact SA exports, particularly agriculture - expert

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Cape Town - Should the trade linkages with the UK react negatively on the back of the Brexit decision, it could have a negative impact on South Africa's overall current account balance, Karl Götte, head of Standard Bank Commercial Banking, said on Thursday.

The Brexit decision sent shockwaves through international markets as previous consensus indicated that the UK would decide to remain within the EU. The decision to leave after 43 years of membership resulted in volatility in global financial markets with the pound sterling plummeting to a 31-year low against the dollar.

The decision is expected to have an adverse impact on South African exports to the UK – particularly within the agricultural sector, in his view.

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