JOHANNESBURG - The rand traded stronger versus the US dollar during European trade yesterday according to NKC Research.
The South African currency strengthened in line with improved emerging market sentiment on the back of hopes that the US and China are making some progress in resolving their trade dispute. The rand was stable despite a parliamentary committee recommending that the Constitution be amended to allow for land expropriation without compensation for economic redress. At the close of local trade, the rand quoted 0.5 percent stronger at R14.25/$, after trading in the range of R14.21/$ - R14.40/$. The rand traded stronger overnight. Expected range today R14.00/$ - R14.30/$.
South African bourse