The rand was much weaker against most currencies in early trade on Friday.
At 9.33am the rand was bid at R8.42 to the dollar. It was bid at R10.52 to the euro and at R12.99 against sterling.
Gold was trading at US$1567.31 per ounce.
Bond softer in quiet trade
South African bonds were softer in quiet morning trade on Friday after comments late on Thursday saw a sell-off in emerging-market currencies.
“The rand and bonds had strengthened in late afternoon trade on Thursday on the back of the Chinese rate cut‚ but US Federal Reserve chairman Ben Bernanke poured cold water on this market exuberance in his testimony before Congress‚” a local trader said.
At 08:30‚ the benchmark R157 bond was trading at 6.255 percent from Thursday’s close of 6.230 percent‚ Wednesday’s close of 6.260 percent and Tuesday’s close of 6.330 percent.
The R207 was bid at 7.545 percent and offered at 7.515 percent from a previous close of 7.500 percent and the R186 was bid at 8.290 percent and offered at 8.260 percent from its close of 8.245 percent.
Billionaire Mark Shuttleworth is suing the govt to have exchange controls declared unconstitutional.
Signs of a possible reprieve for the rand were dashed on Monday after the currency fell again.
The latest Lonmin labour dispute is throwing further light on what kind of a partner Amcu will be.
