Rand softer on Greek concerns-continued

February 6, 2012--The rand was softer against the dollar in afternoon trade on Monday as it tracked a euro that had weakened on concerns that the Greek government would default on its debt obligations.
"The negotiations started out as a script for a tragedy that had to be avoided at all costs, but as they have dragged on with various actors entering and exiting the stage, it has turned into a farce," a local forex trader said.

At 15:57 local time, the rand was trading at R7.6181 to the dollar from its previous close of R7.5160. It was trading at R9.9389 to the euro from R9.9032 before, and at R12.0034 against sterling from R11.8929 previously.

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Source: FIN24

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