Rand slumps, breaching R8/dollar

2012-05-09 12:34

Johannesburg - The rand extended losses against the dollar on Wednesday, touching a three-and-a-half week low as renewed worries about growth prospects in Europe dented risk appetite.

The rand fell as much as 1.34% to R8.0020 to the greenback, its weakest level since April 16 according to Reuters data.


  • ian.d.samson - 2012-05-09 14:18

    This has been manufactured by the Reserve Bank. The State does not want to drop the petrol price by 53c/l in June, they want the citizens to pay for Gauteng's freeways and bail SANRAL out of the mire, so they let the Rand slump against the Dollar. It's simple economics ....

  • mikenortje - 2012-05-09 15:45

    Gill Marcus said the Rand is over valued by 5%

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