THE RAND came under intense selling pressure overnight and in early trade today as poor global markets and a flight to safe havens dictated direction. It may also have suffered a bit more than it should have as investors "picked the tops", said one dealer.
It was bid at R7,9725 to the dollar from its previous close of R7,8831.
More.
NVDL: Prepare for a lot more pain. Brent Crude Oil now $100.40 (up 0.30%). Expect another big petrol price increase in a few weeks. OPEC is also cutting output... Even though we've been predicting this 'unfolding' for some time, it is so sad to watch. It's going to hurt everyone in many ways. We are going to pay an immense price for our common complacency.
OPEC CUT IN OUTPUT EXPECTED
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