All data is delayed
See More

Rand weaker on thin trade conditions

Jan 10 2013 12:27
I-Net Bridge
Johannesburg - The rand weakened against the US dollar before noon on Thursday as thin trading volumes weighed on the local currency.

“We are still experiencing very thin trading conditions and there is no new news out at the moment which could push the rand in any direction. Normal trading volumes should return next week‚” said Mark Kalkwarf‚ a senior portfolio manager from the Iquad Group.

At 11:39‚ the rand was bid at R8.6094/$ from its previous close of R8.5999/$ on Wednesday. The local currency was bid at R11.2450/€ from its previous close of R11.2201/€ and at R13.7961 against sterling from R13.7621 before.

The euro was bid at $1.3070 from its overnight close of $1.3053.

“The current unrest in the farming sector in the Western Cape has been offset by positive economic data from Germany‚ the eurozone’s biggest economy‚” Kalkwarf said.

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

rand  |  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