Johannesburg - The rand touched a 3-1/2 week low against the dollar on Friday as investor sentiment soured over the two week long student protests over tuition fees that have hit universities countrywide.
By 16:12 the rand was trading 1.26% down at R13.5740/$, reversing earlier gains as a stronger dollar also weighed down the local currency.
"The student protests doesn't reflect well to offshore investors and the fact that the government is already under pressure from a fiscal perspective and the situation adds to pressure going forward," said Ricardo Da Camara, market analyst at ETM Analytics.