Rand steady after sharp fall
Fri, 05 Sep 2008
The rand was steady against major currencies in noon trade on Friday after dropping below the R8 to the dollar level in late trade on Thursday. Risk aversion was seen as the main culprit in the unit's weakness.
At 12.44pm the local unit shed 0.11 percent against the greenback and was bid at 8.0320 from its previous close of 8.0304.
The rand gained 0.13 percent against the euro and was bid at 11.4393 from its previous close of 11.4458.
Against sterling the rand jumped 1.01 percent and was bid at 14.1403 from its previous close of 14.1561.
Gold added 0.14 percent and was quoted $795.45 a troy ounce.
