Monday, January 29, 2007

Negative sentiment weighs on rand

South Africa's rand weakened against the dollar on Monday, weighed down by emerging market worries that saw investors opt out of riskier currencies, and analysts predicted a gloomy week for the local unit.

The rand stood at 7.3125 versus the dollar at 1530 GMT, having softened about 0.84 percent to 7.3470 earlier from its New close of 7.2850/dollar on Friday.

Market players said South African had borne the brunt of an emerging market sell-out on the day

Read Full Article at Reuters South Africa

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