The South African rand was broadly flat in early trade on Monday, but market players were on edge after the currency struck a record low last week.
The rand has had a torrid May, battered by crippling power cuts, a U.S. allegation that a Russian ship picked up weapons in South Africa last year, and the central bank fuelling concerns of further currency weakness.
At 0622 GMT, the rand traded at 19.6450 against the dollar , not far from its Friday closing level of 19.6625 and down about 7% against the greenback this month. It hit a new all-time low of 19.8175 early on Friday after the South African Reserve Bank raised its main interest rate by 50 basis points but failed to impress some traders and economists.
"The market is nervous, and it will not take much to run again, and we haven't even yet established any form of a range," said Rand Merchant Bank analysts in a morning note. Public holidays in the U.S. and Europe on Monday may mean rand trading is thinner than usual at the start of the week.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
D.C.-area forecast: Pleasant today, but less ideal Sunday into Monday as showers roamOur wonderful run of weather couldn't last forever. We could use some rain, anyway.
Read more »
White Sox's Liam Hendriks expected to return Monday after cancer treatmentHendriks is expected to be activated on Memorial Day, which would mark his return from stage 4 non-Hodgkin's lymphoma.
Read more »
Liam Hendriks will return to Chicago White Sox on Monday after cancer battleThe Chicago White Sox announced on Sunday that Liam Hendriks will be returning to the team on Monday after a battle with cancer.
Read more »
Coca-Cola 600 postponed until Monday due to wet weather - AutoblogNASCAR's Coca-Cola 600 was postponed until Monday at 3:00 p.m. due to weather. Byron will start on the pole.
Read more »
Hendriks set to return to White Sox MondayLiam Hendriks is ready to rejoin the Chicago White Sox after recovering from non-Hodgkin lymphoma. The White Sox posted a video on Twitter on Sunday welcoming Hendriks back to the team, and the eccentric closer confirmed his return in an Instagram post that read, 'See you soon Southside,' along with Monday's date.
Read more »