Johannesburg - The rand shed further value in late afternoon trade‚ as rumours continued to drive a volatile market.
“Today has been an extremely volatile day in the market with wild gyrations depending on the headlines we see‚” said Jim Bryson a currency trader at RMB.
“The rand appears to be settling into ranges‚ and movements seem to be tied in with the Aussie dollar‚ but overall this remains a very rumour-driven market.”
At 18:00 the rand was bid at R9.9630/$ from Thursday’s close of R9.8279/$ and Wednesday’s close of R10.0731/$.
The local currency was bid at R13.2723/€ from its previous close of R13.1422/€ and was at R15.6237 against sterling from R15.4423 at its previous close.
The euro was bid at $1.3321 from $1.3366 at Thursday’s close.
“Today has been an extremely volatile day in the market with wild gyrations depending on the headlines we see‚” said Jim Bryson a currency trader at RMB.
“The rand appears to be settling into ranges‚ and movements seem to be tied in with the Aussie dollar‚ but overall this remains a very rumour-driven market.”
At 18:00 the rand was bid at R9.9630/$ from Thursday’s close of R9.8279/$ and Wednesday’s close of R10.0731/$.
The local currency was bid at R13.2723/€ from its previous close of R13.1422/€ and was at R15.6237 against sterling from R15.4423 at its previous close.
The euro was bid at $1.3321 from $1.3366 at Thursday’s close.