The rand rallied in early trade on Monday amid reports that Greece and eurozone leaders have struck a deal to save the eurozone nation from near bankruptcy.
The reports boosted the euro and global risk appetite‚ nudging the rand below the R12.40 to the dollar level as markets cheered the news.
"All ready to go for ESM (European Stability Mechanism) programme for Greece with serious reforms & financial support‚" European Council president Donald Tusk said in a tweet.
At 8.58am‚ the rand was at R12.3935 against the greenback from a close of R12.4931 on Friday.
The rand was at R13.8711 against the euro from a previous close of R13.8903 and at R19.2703 to the British pound from R19.4053 previously.
The euro was at $1.1192 from its previous close of $1.1096.
- BDlive