Rand breaches R13.30/$ on ratings jitters

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Cape Town - The rand extended its losses on Tuesday, breaching the R13.30 to the US dollar level as credit rating fears resurfaced.

RMB economist Ilke van Zyl said a credit downgrade could trigger as much as $10bn worth of portfolio outflows from South Africa.

By 13:01 the rand was trading at R13.28/$ after reaching R13.31 earlier in the session.

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Rand - Dollar
13.75
+0.1%
Rand - Pound
19.42
-0.1%
Rand - Euro
16.67
+0.2%
Rand - Aus dollar
10.60
-0.2%
Rand - Yen
0.13
-0.1%
Gold
1,857.99
-0.1%
Silver
27.78
+0.4%
Palladium
2,800.00
+1.5%
Platinum
1,151.78
-0.3%
Brent Crude
73.99
+1.6%
Top 40
61,062
0.0%
All Share
67,311
0.0%
Resource 10
64,119
0.0%
Industrial 25
88,248
0.0%
Financial 15
13,596
0.0%
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