JSE record weakens rand

The rand continued to weaken on Thursday morning after the JSE hit a record high on Wednesday.

“The JSE all share index hit a record high yesterday‚ and when the people are buying shares‚ the local currency weakens‚” Iquad Group currency dealer Tony van Dyk said.

Graphic: Renjith Krishnan.

At 8.35am‚ the rand was bid at R8.5093 to the US dollar from its previous close of R8.4783. The local currency was bid at R11.1852 to the euro from its previous close of R11.1735 and at R13.8018 against sterling from R13.7696 before.

The euro was bid at $1.3149 from its overnight close of $1.3184. - I-Net Bridge