In South Africa Rand largely flat, market awaits trade

At 0643 GMT rand trades at 14.1720 to dollar, down just 0.26 percent from Thursday's close.

  • Published:
A South African child holds a 50 rand note in a file photo. play A South African child holds a 50 rand note in a file photo.
24/7 Live - Subscribe to the Pulse Newsletter!

South Africa's rand was mostly flat against the dollar on Friday as the market awaited trade data that would give a clue on the state of the export sector.

* At 0643 GMT rand trades at 14.1720 to dollar, down just 0.26 percent from Thursday's close.

* Rand off a session high of 14.0800 reached earlier in Friday's session, its strongest since Nov. 2015.

* Weak economic outlook likely to cap rand gains, with Finance Minister Pravin Gordhan warning growth of 4 to 5 percent will not be seen for some time.

* June trade data due at 1200 GMT, 7.2 billion rand surplus expected.

* Local bourse to open up slightly at 0700 GMT, blue chip futures index adds 0.29 percent.

* Government bonds edge higher, yield on 2026 benchmark dips half a basis point to 8.74 percent.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.