Rand Drops First Time in Three Days on Commodities, Greece

By Ana Monteiro

April 27 (Bloomberg) -- The rand weakened for the first time in three days as commodities fell and concern that Greece’s aid package may be delayed prompted investors to sell emerging- market assets.

There will be no decision on aid for Greece until the International Monetary Fund works out a plan of cuts with the government in Athens, German Chancellor Angela Merkel said yesterday. The MSCI Emerging Markets Index of stocks from 22 developing countries snapped a two-day rally, and copper declined 1.4 percent, the most in four days, in London. FULL STORY