Rand 1% firmer, boosted by Greek compromise

Johannesburg - The rand firmed more than one percent to R11.8590, close to its strongest in a month, as optimism over the Greek debt crisis cheered the local unit.

"The strength of the rand today is function of the Greek optimism after the PM (Alexis Tsipras) decided to change his negotiating team as a compromise to the ECB," said Dale Forssman, a fixed-income trader with World Wide Capital Securities.