The rand was weaker in midday trade on Tuesday, testing the R7.40/$ level on the back of weaker global equities. A local dealer said the currency market is nervous that the Dow will extend Monday's losses when it opens later in the day. At 11.42am local time local time the rand was bid at R7.3851 to the dollar from R7.3340 at the previous close. It was bid at R9.3606 against the euro from R9.2888 before. It was trading at R11.3927 to the pound from R11.3362 at its previous close. At 12:29 gold was quoted at $1 234.35 an ounce.

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