S. African rand weaker in quiet trade

The South African rand was weaker against major currencies late on Friday afternoon in quiet trade.

At 15:43 (1343 GMT), the rand was bid at 7.3025 per U.S. dollar from an overnight close of 7.2346.

It was bid at 9.3314 to the euro from a previous 9.2631 and at 13.7500 against sterling from Thursday's 13.6507.

After rallying to a best level in 11 weeks on Thursday, the rand weakened overnight when a large euro-rand order that went through the market in late London trade resulted in stop losses being triggered through 7.20, traders said.

While the rand's direction was difficult to call from here, they expected it to remain within a 7.20 to 7.35 range for now.

Source: Xinhua