JOHANNESBURG - The rand traded weaker against the greenback during European trade yesterday according to NKC Research.
The South African currency remained relatively steady, amid a mix of foreign and local developments. The rand initially received support from a softer dollar coupled with optimism over Sino-US trade talks. On the local data front, somewhat disappointing manufacturing production figures for November and a dip in business confidence during December weighed on the local currency. At the close of local trade, the rand quoted 0.6 percent weaker at R13.90/$, after trading the in range of R13.82/$ - R13.95/$. The rand traded slightly stronger overnight and looks stable ahead of today’s US CPI figures for December. Expected range today R13.70/$ - R13.90/$.
South African bourse