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THE rand fell sharply against the dollar yesterday as investors' appetite for risk waned on worries that the global economy will remain weak for some time, while stocks fell on lower commodity prices.
The rand was trading at 7,84 against the dollar, 1,27percent weaker than Wednesday's New York close of 7,7415.
A larger-than-expected drop in US non-farm payrolls raised concerns about the pace of economic recovery and sent investors back to safe haven assets.
Heavyweight Anglo American fell 5,42percent to R221,25 and rival BHP Billiton shed 4,75percent to R174,30.
Africa's biggest platinum miner Anglo Platinum tumbled 4,99percent to R530,15. It said it had concluded the sale of its 51percent stake in Lebowa Platinum Mine to Annoraq.
On the bourse, miners were the worst hit after gold fell below the $930 an ounce level and copper dropped 2percent as US and European data suggested economic recovery could be a long way off. - Reuters