Rand slips as dollar rebounds, China growth disappoints

October 19, 2015 12:30 PM

It's earlier momentum as the greenback rose inspired by stronger-than-expected industrial production and a sharp rebound in consumer sentiment.

South African rand notes in a file photo. REUTERS/Siphiwe Sibeko

South Africa's rand weakened 1.01 percent against dollar to 13.2175 on Monday, giving up its earlier momentum as the greenback rose inspired by stronger-than-expected industrial production and a sharp rebound in consumer sentiment.

Weak growth data out of China, which dipped below 7 percent for the first time since the 2009 global economic crisis, also put the rand under pressure along with fellow emerging market currencies, as concerns over the world's number 2 economy soured risk sentiment.