Rand at 8.49 against the US dollar

Comment on this story
IOL world currency1 Graphic: Renjith Krishnan.

The rand had hardly moved in late Thursday trade from its closing levels on Wednesday‚ amid a very quiet trading day.

“The low for the day was R8.53 - about the same low as yesterday. There was supply from mining companies above the R8.50 level today. We saw decent support at the R8.40 level and good resistance at R8.60. So we are just playing in the R8.40 to R8.60 range‚” a currency trader said.

At 3.49pm‚ the rand was trading at R8.4951 to the US dollar from its previous close of R8.4928. The local currency was bid at R11.2814 to the euro from its previous close of R11.2158 and at R13.8370 against sterling from R13.7919 before.

The euro was bid at $1.3286 from its overnight close of $1.3213.

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines