JOHANNESBURG - The rand fell against the US dollar during yesterday’s European trading session according to NKC Research.
The South African currency looked stable throughout the day, hovering just above the R13.70 level. However, the rand/dollar depreciated sharply in late trade following the Sarb’s decision to keep interest rates unchanged at 6.75. At the close of local trade, the rand quoted 0.4 percent weaker at R13.78/$, after trading in the range of R13.68/$ - R13.83/$. However, the rand recovered losses again overnight amid USD softness. Expected range today R13.60/$ - R13.85/$.
South African bourse