Sa rand drops
#RandReport: Rand slips, stocks dragged lower by Barclays
The rand weakened 0.4% to 13.1875 per dollar as a third consecutive trade surplus failed to lift the cloud of political uncertainty.
At 0645 GMT, the rand traded at 13.0500 per dollar, 0.6% weaker from its New York close on Monday.
The rand was also hit by some selling on technical factors as it broke through the R13.1000 support ahead of a bank holiday on Thursday.
Standard & Poor’s and Fitch are due to make public their decisions on its rating in June.
The rand broke through the R16 to the dollar mark & continued to drop throughout yesterday.
South African traders have had to import 770,000 tons this season.
The rand briefly touched 14.4950 against the dollar, its weakest on record according to Thomson Reuters data.
The rand stumbled to 14.4400 to the dollar, its weakest on record according to Thomson Reuters data.
The Business Confidence Index fell to 84.3 in August, retracting to an even lower level than in June.
The rand extended losses, slipping 0,4 percent to 13,4915 per dollar, after failing to shrug-off aversion.
The rand extended losses against the US dollar as emerging markets expect US interest rates to increase.
SA's economy is still struggling since the recession and SARB says interest rates will have to gradually rise.
The rand fell more than 1 percent against the dollar tracking losses by other commodity linked currencies.
The currency firmed slightly after data showed the domestic trade deficit narrowed to R2.91 billion.
The Rand and government bonds didn't change much on Monday.
The rand continues to spiral against the dollar due to a sharp widening of the trade deficit.