The rand swung from gains during the day to subsequently lose 0.58 percent against the US dollar (USD) whilst brent crude oil slid on rebound in US production.

In regional currencies, the US dollar gained against the rand by 0.58 percent to close at R12.18 by end of trading session.

The Namibian dollar closed at $12.17 per one US dollar whilst the US dollar was exchanged for 9.75 and 9.85 against the Botswana pula and the Zambian kwacha respectively. 

In metal commodity markets, gold was trading at around $1332.4 per ounce having gained 0.55 percent from previous day’s trading.

Platinum gained 0.8 percent to $1010.1 per ounce.

The recovery in US production outweighed ongoing declines in crude inventories impacting heavily on brent crude oil prices which declined by sharply by 1 percent to close at $63.31 per barrel.