27 May 2013

Rand slightly softer in subdued trade

I-Net Bridge

Johannesburg - The rand was a touch softer in subdued midday trade on Monday as public holidays in the UK and US robbed the market of liquidity.

“There is nothing much to report as trade is very subdued with London and New York on holiday‚” a local foreign exchange trader said.

At 11:30 the rand was bid at R9.5969/$ from R9.5696 at Friday’s close and R9.5176 at Thursday’s close. It touched a four-year worst level of R9.6920 on Thursday.

The local currency was bid at R12.4134/ from its previous close of R12.3953 and was at R14.5286 against sterling from R14.4915 at its previous close.

The euro was bid at $1.2943 from $1.2937 at Friday’s close

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