World Markets

South African rand wilts to 12-day low as rally falters

Credit: REUTERS/MIKE HUTCHINGS

South Africa's rand dropped to a 12-day low and one of its primary volatility indicators climbed to a near one month-high on Monday, as the currency's 2021 rally ran into some turbulence.

LONDON, June 14 (Reuters) - South Africa's rand dropped to a 12-day low and one of its primary volatility indicators climbed to a near one month-high on Monday, as the currency's 2021 rally ran into some turbulence.

The rand was last down 0.7% at 13.77 to the U.S. dollar ZAR= and firmly on course for its fifth drop in the last six trading sessions. One-week implied volatility levels topped 12.5 ZARSWO= for the first time since May 17, Refinitiv data also showed.

(Reporting by Marc Jones, editing by Karin Strohecker)

((marc.jones@thomsonreuters.com; +44 (0)20 7513 4042; Reuters Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs))

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