Fin24

Rand tracks euro weaker

2012-11-02 16:39

Johannesburg – The rand tracked the euro weaker on Friday afternoon as better-than-expected US unemployment boosted the US dollar.

At 15:46‚ the rand was bid at R8.6825/$ from Thursday’s close of R8.6349. It was bid at R11.1581 to the euro from its previous close of R11.1756 and at R13.9172 against sterling from R13.9234 before.

The euro was bid at $1.2854 from Thursday’s close of $1.2947.

“The rand is currently still trading between its margins‚ but is tracking the weaker euro as the dollar has been boosted by the positive US unemployment payroll data‚” said Tony van Dyk‚ a currency dealer from the Iquad Group.