The rand remained both under pressure and volatile in afternoon trade on Friday amid global economic growth jitters.
At 18:00 the rand was bid at R8.4101 to the dollar from its previous close of R8.3794. It was bid at R10.5516 to the euro from its previous close of R10.5095 and at R13.1019 against sterling from R13.0614 before.
The euro was bid at US$1.2543‚ from its previous close of $1.2544.
Currency traders awaited the outcome of political eurozone meetings in Rome and Luxembourg and remained cautious ahead of next week's summit of European Union leaders‚ Dow Jones Newswires reported.
The euro earlier today extended the sharp fall seen in US hours on Thursday as dealers in Europe digested the downgrade of 15 major financial companies by ratings firm Moody's Investors Service.
"Thursday’s vicious global moves highlighted that risk remains elevated. Some weakness in the rand is justified‚" RMB said in a note today.
Bond curve flattens
The South African bond curve flattened in afternoon trade on Friday as poor global growth prospects fuelled hopes that inflation would be lower than previously expected.
At 18:00‚ the benchmark R157 bond was trading at 6.010 percent from Thursday’s close of 6.030 percent and Wednesday’s close of 5.960 percent. The R207 was bid at 7.195 percent and offered at 7.205 percent from a previous close of 7.250 percent and the R186 was trading at 7.990 percent from its previous close of 8.030 percent.
Stock markets are at or close to new highs. Should you cash in before the mother of all reality checks?
The Lonmin wildcat strike will continue until NUM's local office has been shut down, Amcu said.
Sanral has scrapped plans to construct a toll-road on the N2 Wild Coast Highway, it emerged on Tuesday.
