JOHANNESBURG - The rand dipped lower against the US dollar during European trade yesterday according to NKC Research.
The South African currency appeared stable during early trade, but a stronger looking greenback caused the rand to slip slightly and extend on Friday’s losses. Looking at other emerging market currencies: the rouble hit a six-week high against the US dollar, thanks to higher oil prices; while China's yuan weakened somewhat as markets digested data showing the world’s second-largest economy was cooling. At the close of local trade, the rand quoted 0.2 percent weaker at R13.86/$, after trading in the range of R13.82/$ - R13.91/$. The rand traded slightly weaker overnight. Expected range today R13.75/$ - R13.95/$.
South African bourse