Johannesburg – The rand traded a tad stronger in late trade on Friday albeit in very quiet territory.
“We had a very quiet day today with the euro doing very well or the dollar doing very badly‚ depending on which way you look at it‚” said Jim Bryson‚ currency trader at Rand Merchant Bank (RMB).
“The rand is not as strong as it should be‚ because of local mining uncertainty and we are quite weak against the euro with the rand being kept hostage to bad labour-related news‚” he added.
At 16:04‚ the rand was bid at R8.2278 to the dollar from R8.2365 at Thursday’s close. It was bid at R10.8244 to the euro from its previous close of R10.7043 and at R13.3436 against sterling from R13.3008 before. The euro was bid at $1.3164 from $1.2994 at Thursday’s close.