JOHANNESBURG - The rand edged weaker versus the greenback during yesterday’s European trading session according to NKC Research.
The South African currency started the day on a firmer footing thanks to stronger-than-expected Chinese trade data, which briefly lifted emerging market sentiment, but the currency drifted weaker in line with euro weakness and disappointing South African mining and manufacturing production figures. At the close of local trade, the rand quoted 0.7 percent weaker at R14.01/$, after trading in the range of R13.88/$ - R14.03/$. The rand traded weaker overnight. Expected range today R14.00/$ - R14.30/$.
South African bourse