All data is delayed
See More

Rand weakens on Greek uncertainty

Nov 13 2012 13:10
I-Net Bridge
Johannesburg – The rand weakened before noon on Tuesday as uncertainty in the eurozone added pressure to the euro‚ which the rand tracked softer.

“The rand is following the euro weaker today as uncertainty surrounds a new bailout for Greece. This is putting all emerging market currencies under pressure and is expected to remain this way for the time being‚” Vunani Capital global markets analyst Kuziva Muganiwa said.

At 12:06‚ the rand was bid at R8.7913/$ from Monday’s close of R8.7483. The local currency was bid at R11.1396 to the euro from its previous close of R11.1108 and at R13.9663 against sterling from R13.8792 before.

The euro was bid at $1.2673 from Monday’s close of $1.2707.

“The rand has come under pressure today as the yield on local government bonds remained unchanged‚” Muganiwa said.
rand  |  dollar  |  euro  |  currencies


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote