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Rand gains, in line with emerging markets

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The rand was slightly stronger ahead of time Friday, in accordance with other emerging-market currencies, who have slowly restored gains after recent sharp losses.

The rand was 0.2% stronger at 14.10 per dollar at 0701 GMT, having closed in Nyc at 14.13.

The rand has gained over 1% for the reason that end of last week, defying expectations that this would see selling pressure after another US apr rise.

The rand is predicted to trade between 13.95 and 14.25 into the dollar on Friday, NKC African Economics wrote in the note.

South Africa-focused investors were awaiting the making of August’s trade balance data at 1200 GMT.

In fixed income, the yield within the benchmark government bond due in 2026 rose 1 basis points to 9%.

Stocks opened slightly weaker, with all the Top 40 Index down 0.2% at the begining of trade.?

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