All data is delayed
Loading...
See More

Rand weakens on imports

Jan 03 2013 12:12
I-Net Bridge

Johannesburg – The rand weakened before noon on Thursday as it started to follow its historic trend.

“There is a lot of import action happening at the moment which is weakening the local currency; usually the rand starts to weaken at the start of the year‚” said Ockert van Niekerk‚ head of trading at PSG. 

At 11:18am‚ the rand was bid at R8.5257 to the US dollar from its previous close of R8.4783. The local currency was bid at R11.2204 to the euro from its previous close of R11.1735 and at R13.8365 against sterling from R13.7696 before. 

The euro was bid at $1.3162 from its overnight close of $1.3184. 

“The rand is slipping at the moment - it usually has a good run in the latter part of December‚ before weakening again‚” Van Niekerk said.

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

rand  |  markets

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com 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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

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

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...