Rand at 8.12 against the US dollar

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IOL world currency1 Graphic: Renjith Krishnan.

The rand was in very quiet territory at noon on Tuesday due to the summer holidays having started in Europe‚ with the currency trading in a relatively narrow range.

“There is not much going on in the market‚ with the rand being flow driven‚” said Warrick Butler‚ head of rand trading at Standard Bank.

Better-than-expected French and German GDP figures had no effect on the rand‚ with markets now awaiting retail sales figures from the US later in the day.

At 11.58am local time the rand was bid at R8.1268 to the dollar from Monday’s close of R8.1491. It was bid at R10.0336 to the euro from its previous close of R10.0515 and at R12.7443 against sterling from R12.7775 before.

The euro was bid at US$1.2357 from $1.2335. - I-Net Bridge

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