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Rand sinks through R8.50/$ level

Johannesburg - The rand tumbled to its weakest level since May 2009 against the dollar on Wednesday, with market players seeing further losses as investors dump risky assets on worries that eurozone leaders are not getting to grips with the debt crisis in that region.

The rand fell 1.7% to a session low of R8.53 against the dollar and was last trading at R8.50, from Tuesday’s New York close of R8.3880.

Government bonds followed suit and yields, that move inversely to the price, rose to their highest level in nearly two months.
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Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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