Rand little changed in thin conditions

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IOL world currency1 Graphic: Renjith Krishnan.

Johannesburg - The rand was little changed in quiet early trade on Thursday morning‚ hovering around the R8.50 per dollar level after it weakened yesterday on dollar buying after a strong run.

“The rand has had a strong run and has been very active and yesterday we saw some strong importer demand. We are looking at 8.48 to 8.56 to start‚ but the traffic this morning suggests the start of the ’December market’ - thin market‚ with little to drive it‚” said a local trader.

At 8.40am‚ the rand was bid at R8.4962 to the US dollar from its previous close of R8.4928.

The local currency was bid at R11.2355 to the euro from its previous close of R11.2158 and at R13.8032 against sterling from R13.7919 before.

The euro was bid at $1.3217 from its overnight close of $1.3213. - I-Net Bridge

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