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Rand softer due to dollar strength

The rand pared gains in late trade on Friday due to some dollar strength coming through due to continued Eurozone debt concerns.

“The rand is softer due to some dollar strength. We have seen the local currency a lot weaker on other days‚” said a local trader.

The rand was unchanged against the Swiss franc and Canadian dollar today and strengthened by 0.4% against the Brazilian real.

At 15.48pm‚ the rand was bid at R8.7393 to the US dollar from Thursday’s close of R8.7034.

It was bid at R11.1006 to the euro from its previous close of R11.0873 and at R13.9087 against sterling from R13.8956 before.

The euro was bid at $1.2696 from Thursday’s close of $1.2740. - I-Net Bridge

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