Loading...
See More

Rand weakens on low demand

Jan 10 2013 17:35 I-Net Bridge

(Supplied)

Related Articles

Rand weaker on thin trade conditions

Rand softer on weaker euro

Rand steady but labour worries remain

Rand weakens on thin trade‚ eyes MPC

Rand weakens on continued unrest

Rand weaker, bonds find support

 
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
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

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

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

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