JOHANNESBURG - The rand extended losses against the US dollar during yesterday’s European trading session according to NKC Research.
The South African currency had a brief pause yesterday morning, after sustaining heavy losses in the previous session, but slipped on poor mining production data for December. Meanwhile, Eskom imposed a fifth day of power cuts on Thursday as the rand languished near a six-week low. At close of local trade, the rand quoted 1.1 percent weaker at R14.18/$, after trading in a range of R13.96/$ - R14.22/$. The rand eased overnight. Expected range today R14.00/$ - R14.30/$.
South African bourse