Rand retreats to lower levels
Fri, 10 Oct 2008
The rand retreated back to its six-year worst levels against the dollar in noon trade on Friday sparked by a weak performance on Wall Street overnight on renewed recession fears which boosted risk aversion.
At 12.29pm the local unit slumped 0.96 percent against the greenback and was bid at 9.4200 from its previous close of 9.3145.
The rand dropped 0.31 percent against the euro and was bid at 12.7911 from its previous close of 12.7461.
Against sterling the rand eased 0.16 percent and was bid at 16.0363 from its previous close of 16.0195.
Gold gained 0.64 percent and was quoted $917.30 a troy ounce.
