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Johannesburg - The rand was firmer against the
dollar in very thin trade at noon on Friday, even as the euro came under
slight pressure.
Markets closed at noon today in SA - the last trading day of the year - ahead of the New Year holiday long weekend.
In their last session for 2011, South African bonds were firmer as they tracked the stronger rand.
The rand did not have a good year, as against the dollar it gave up around 19% in 2011.
However, asked by I-Net Bridge to sum up the rand for the year, a local currency trader said: "The rand has done relatively well in 2011 if you consider what's happened globally.
"It's been relatively stable but held hostage by world events - this year has been a strange one."
At 12:03 local time, the rand was bid at R8.0921 to the dollar from its previous close of R8.1540. It was bid at R10.4574 to the euro from R10.5756 before, and at R12.4746 against sterling from R12.5829 previously.
The euro was bid at $1.2927 from its previous close of $1.2950.
By 12:00, the benchmark R157 bond was trading at 6.720%, from its previous close of 6.750%. The R207 was bid at 7.905% and offered at 7.875% from a previous close of 7.920%; the R186 was bid at 8.485% and offered at 8.455% from its close of 8.500%.
"Volumes have been thin but we've seen a bit of activity," a bond trader said.
Foreigners were net buyers of R36.145m of South African bonds including repo transactions on Thursday after net purchases of R1.678bn of local bonds the day before, data released by the JSE show.
Nominal cumulative volume was R22.995bn on Thursday from R20.318bn on Wednesday.
Foreigners were net buyers of R35.826m of South African bonds excluding repo transactions on Thursday, after net purchases of R1.655bn of local bonds on Wednesday.
For the year to date, foreigners have been net buyers of R47.637bn worth of local bonds, excluding repo transactions.
In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.
For the year to date for total transactions, including repo transactions, foreigners have been net buyers of R37.779bn of local bonds. In 2010 they bought net R44.541bn worth of bonds.
Meanwhile Dow Jones Newswires reported that the in foreign exchange markets, the euro had come under some modest selling pressure on Friday after a lacklustre government bond auction in Italy on Thursday.
The single currency, however, was off the 15-month lows against the dollar it hit the previous day.
Markets closed at noon today in SA - the last trading day of the year - ahead of the New Year holiday long weekend.
In their last session for 2011, South African bonds were firmer as they tracked the stronger rand.
The rand did not have a good year, as against the dollar it gave up around 19% in 2011.
However, asked by I-Net Bridge to sum up the rand for the year, a local currency trader said: "The rand has done relatively well in 2011 if you consider what's happened globally.
"It's been relatively stable but held hostage by world events - this year has been a strange one."
At 12:03 local time, the rand was bid at R8.0921 to the dollar from its previous close of R8.1540. It was bid at R10.4574 to the euro from R10.5756 before, and at R12.4746 against sterling from R12.5829 previously.
The euro was bid at $1.2927 from its previous close of $1.2950.
By 12:00, the benchmark R157 bond was trading at 6.720%, from its previous close of 6.750%. The R207 was bid at 7.905% and offered at 7.875% from a previous close of 7.920%; the R186 was bid at 8.485% and offered at 8.455% from its close of 8.500%.
"Volumes have been thin but we've seen a bit of activity," a bond trader said.
Foreigners were net buyers of R36.145m of South African bonds including repo transactions on Thursday after net purchases of R1.678bn of local bonds the day before, data released by the JSE show.
Nominal cumulative volume was R22.995bn on Thursday from R20.318bn on Wednesday.
Foreigners were net buyers of R35.826m of South African bonds excluding repo transactions on Thursday, after net purchases of R1.655bn of local bonds on Wednesday.
For the year to date, foreigners have been net buyers of R47.637bn worth of local bonds, excluding repo transactions.
In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.
For the year to date for total transactions, including repo transactions, foreigners have been net buyers of R37.779bn of local bonds. In 2010 they bought net R44.541bn worth of bonds.
Meanwhile Dow Jones Newswires reported that the in foreign exchange markets, the euro had come under some modest selling pressure on Friday after a lacklustre government bond auction in Italy on Thursday.
The single currency, however, was off the 15-month lows against the dollar it hit the previous day.
