Money SA economy
A softer rand tracked euro/dollar movement in midday trade on Thursday amid continued market volatility.
At 11.41am the rand was bid at R7.81 to the dollar, R9.67 to the euro and R11.21 to the pound. The euro was bid at $1.2382 from $1.2387 previously.
A local trader said: "We have seen some volatility in the markets today. Dollar/rand is well bid and we will continue to track the dollar's movement against the euro with the range at R7.78/$-R7.88/$.
Dow Jones Newswires reported that the euro got a little respite on Thursday but remains under pressure, as any coordinated intervention to stop its fall appears unlikely.
Short-covering helped to lift the single currency from overnight lows against the dollar.
Although Asian stocks were mostly lower, European markets have opened higher with general global sentiment helped by strong GDP numbers from Japan and Singapore.
