A five rand coin. Picture: REUTERS
A five rand coin. Picture: REUTERS

The rand was slightly weaker against a pressured dollar on Friday just before midday, but maintained its range-bound trade.

At 11.30am‚ the rand was at R12.8335 to the dollar from R12.7980‚ at R15.4698 to the euro from R15.3813‚ and at R16.8856 from R16.7657 to the pound.

The euro was at $1.2054 from $1.2020

Rand Merchant Bank analyst John Cairns said the dollar had come under significant pressure once again, trading at its weakest level in more than two years in intraday trade.

"This move has been rapid, probably too much so, and faces a potential pullback, as was the case the last time the market got to these levels back in August," said Cairns.

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