Markets

South Africa rand extends losses against dollar, reaches 5-week low

Published May 28, 2015 Updated May 28, 2015 02:22pm

1 min

By Imad Uddin

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JOHANNESBURG: South Africa's rand fell more than 1.3 percent against the dollar on Thursday, tracking emerging market peers after a report said capital flows were projected to fall, weighed down partly by the prospect of higher U.S. interest rates.

The rand touched a session low of 12.1925/dollar, its weakest in five weeks, and was trading at 12.1775 by 1257 GMT, down 1.29 percent from Wednesday's close in New York.

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