Rand weakens ahead of Group of 20 meeting
Reserve Bank deputy governor Francois Groepe told Bloomberg that SA, having the 16th most heavily traded currency while only the 33rd largest global economy, makes it a proxy for emerging markets.
The JSE was weaker on Friday morning, with the all share index down 1.4% to 51,010 points and the top 40 down 1.5 % to 45,016 points at 10am.
Of top 40 shares, Absa fared worst with a 3.65% drop to R153. Banks generally suffered from the weaker rand, with Nedbank down 3.5% to R263.25 and FirstRand down 3.2% to R67.82.
Source: businesslive.co.za
