Johannesburg - The rand weakened more than 1% to the - TopicsExpress

Johannesburg - The rand weakened more than 1% to the psychologically key R11/$ level on Thursday, its lowest since October 2008 when R49bn of capital was pulled out of the economy. On the first day of strikes at platinum mines, the rand was at R10.9910/$ at 15:42 GMT, down 1.05% from Wednesdays New York close, after earlier touching 11. Against the pound and the euro, the rand was around 2% weaker, at R18.2789/£ and R14.9689/€ respectively.

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