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RANDWATCH
Rand gains upper hand
Posted Mon, 20 Jul 2009

The rand gained the upper hand against major currencies in noon trade on Monday as it dipped below the R8 against the dollar level while local markets welcomed the appointment of new Reserve Bank governor, Gill Marcus.

At 12.15pm the local unit was bid at 7.9758 against the greenback from its previous close of 8.0425.

The rand was bid at 11.3436 against the euro from its previous close of 11.3535.

Against sterling the rand was bid at 13.1635 from its previous close of 13.1250.

Gold was quoted $950.90 a troy ounce.