JOHANNESBURG - The rand recovered versus the US dollar during European trade yesterday according to NKC Research.
A late slide by the greenback helped the South African currency reverse early losses as investors remained on the side lines ahead of tomorrow’s annual budget speech. At close of local trade, the rand quoted 0.03 percent weaker at R14.13/$, after trading in range of R14.10/$ - R14.20/$. The rand traded firmer overnight, buoyed by broad US dollar softness, as investors await today’s budget policy statement. Expected range today R13.95/$ - R14.25/$.
South African bourse