The rand lost further ground in midday trade on Friday amid global risk aversion‚ linked to stalled US budget talks.

At 11.48am‚ the rand was bid at R8.5796 to the US dollar from its previous close of R8.4816. The local currency was bid at R11.3205 to the euro from its previous close of R11.2295 and at R13.9290 against sterling from R13.7965 before.

The euro was bid at $1.3195 from its overnight close of $1.3236.

Local markets are open half day on Monday‚ and are then closed on Tuesday and Wednesday for the Christmas and Day of Goodwill holidays. They will reopen on Thursday December 27. - I-Net Bridge