Advertisement

Rand largely flat, market awaits trade

A South African child holds a 50 rand note  in a file photo.
A South African child holds a 50 rand note in a file photo.
At 0643 GMT rand trades at 14.1720 to dollar, down just 0.26 percent from Thursday's close.
Advertisement

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.

Advertisement

* 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.

Advertisement

* 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.

Advertisement