• Labour Wrap

    Terry Bell says the labour movement in SA is currently in a state of confusion.

  • Will the NPA stand up?

    Solly Moeng wonders if the NPA head will reinstate criminal charges against president Zuma.

  • Commodity currency

    Jac Laubscher asks if the true exchange rate of the rand is really a cue from commodity prices.

All data is delayed
Loading...
See More

Rand weakens on low demand

Jan 10 2013 17:35
I-Net Bridge
Johannesburg - The rand weakened on Thursday afternoon as international demand for local bonds and equities subsided.

“The rand has been supported by the recent demand for local bonds and equities. Today‚ however‚ we have seen a pause in that demand as traders have been taken profits‚” said Ockert van Niekerk‚ head of trading at PSG.

At 3:26‚ the rand was bid at R8.6425/$ from its previous close of R8.5999/$ on Wednesday. The local currency was bid at R11.3374/€ from its previous close of R11.2201/€ and at R13.8649 against sterling from R13.7621 before.

The euro was bid at $1.3117 from its overnight close of $1.3053.

“The unrest in the farming sector has also weighed heavily on the local currency‚” Van Niekerk said.

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

rands  |  currencies

 
 
 

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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

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

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...