South Africa's currency eyes record low after US accuses the country of secretly selling weapons to Russia

• The US accused South Africa of selling weapons and ammo to Russia.
• This has caused the rand to drop as much as 2.4% against the dollar.
• "The arming of the Russians is extremely serious, and we do not consider this issue to be resolved."

The South African rand headed for a record low Thursday, after the US alleged that the country was supplying Russia with weapons.

The currency dropped as much as 2.4% against the dollar to 19.3413, representing a closing low and stretching this year's decline to 11.5%. The rand's all-time intraday low is 19.3508.