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Rand hits six-month low

By unknown | 2010-05-21 00:00:00.0 | COMMENTS [ 0 ]

THE rand slumped yesterday to past R8 to the US dollar, following concerns over Europe's debt problems.

THE rand slumped yesterday to past R8 to the US dollar, following concerns over Europe's debt problems.

The currency hit a six-month low yesterday as investors decided to off-load risky assets. This was the first time the rand had breached the R8 a dollar mark since early November, "reminding everyone that it is geared to the global economic cycle." - Sapa

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