Aug 21

South African rand weakens ahead of BRICS

The South African rand weakened in early trade on Monday, ahead of a week packed with the BRICS summit of emerging market economies and monthly inflation figures. This morning, the rand traded at 19.0300 against the dollar , around 0.2% weaker than its previous close. The dollar last traded flat against a basket of global currencies. The rand has fallen over 6% against the greenback this month and nearly 12% this year.