The rand softened by midday on Monday amid demand for dollars from local banks.

At 11:32 the rand was bid at 7.3307 to the dollar from 7.3040 at its previous close.

It was bid at 10.6570 to the euro from its previous close of 10.5724.

Against sterling, it was bid at 11.8140 from 11.7492 before.

At 11.32am gold was quoted at $1155.75 an ounce.