Rand continues to take advantage of the pound's weakness

The currency broke the R19 to the pound mark last week, recovering from its worst level earlier this year.

Picture: EWN.

JOHANNESBURG - The rand has continued to take advantage of the pound's weakness, following the UK's vote last month to leave the European Union.

The currency broke through the R19 to the pound mark last week, recovering from its worst levels of R24.40 seen in January this year.

It is now hovering just under the R 19 mark.

The local currency has also benefited from talk of monetary stimulus from global central banks to counter the impact from Brexit.

Managing director at ETM Analytics George Glynos said: "What we are witnessing on the pound is a trade waited loss on most currencies around the world that the rand has managed to strengthen against the pound."