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Articles: Rand cools off

Posted by Admin on Friday, May 11, 2007 - 11:00 AM

THE rand shed about 1% against the firmer dollar yesterday at 6,9770 in afternoon trade, firming to a one-month high against trading partner the euro.

This was after earlier weakening 1,29% to 7 against the greenback from its previous close of 6,89. Gold also weighed on the local unit, dipping further yesterday. Spot gold was at $672,40/3,0 an ounce, down from New York’s late quote of $679,50/680,00 an ounce on Wednesday.

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