South Africa’s rand dips against the dollar
South Africa’s rand
moved in a narrow range against the dollar on Monday, leaning to the
weaker side mostly in line with the euro, while stocks closed virtually
unchanged after a similarly lacklustre session.
The rand dipped to
an intra-day low of 7.0190 against the greenback, before coming back to
7.0050 by 1540 GMT, 0.29 percent off Friday’s close at 6.9850.
“The rand weakened
mostly on the back of a slightly weaker euro. There’s still concerns
around this Irish contagion,” Rand Merchant Bank currency trader,
Brigid Taylor, said.
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