JOHANNESBURG - The rand hovered near the R14/$ level against the USD on Friday according to NKC Research.
The South African currency was fairly stable as the negative impact of poor eurozone economic data and global growth fears was largely offset by optimism that South Africa would get a ratings reprieve from Moody’s and that US-China trade negotiations remain on track. At the close of local trade, the rand quoted 0.1 percent stronger at R13.99/$, after trading in range of R13.96/$ - R14.03/$. The rand traded slightly stronger overnight. Expected range today R13.90/$ - R14.10/$. It’s a quiet day on the data front but any shift in sentiment regarding the US-China trade negotiations could be key for the rand.
South African bourse