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Rand firms slightly in quiet trade

Johannesburg - The rand was slightly firmer against major currencies in quiet midmorning trade on Friday.

At 11:53‚ the rand was bid at R8.8707/$ from Thursday’s close of R8.8923 and Wednesday’s close of R8.9062. On Monday the intraday best level was R8.8117.

The local currency was bid at R11.7284/€ from its previous close of R11.7293 and at R13.5472 against sterling from R13.5608 before.

The euro was bid at $1.3220 from $1.3191 at Thursday’s close and $1.3272 at Wednesday’ close.

“The rand is trapped in an R8.84 to R8.89 range to the US dollar amid a lack of new drivers. The focus this week was on the dollar strength across the major crosses due safe-haven buying‚” a local trader said.

Meanwhile‚ the German Ifo survey - the next data release nervous markets were eyeing - for February came in stronger than expected‚ with both the current assessment and expectations component significantly improved‚ Dow Jones Newswires reported.
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Rand - Dollar
18.98
-0.2%
Rand - Pound
24.14
-0.1%
Rand - Euro
20.63
-0.2%
Rand - Aus dollar
12.39
+0.2%
Rand - Yen
0.13
+0.3%
Platinum
911.84
-1.3%
Palladium
1,018.92
-4.4%
Gold
2,160.36
0.0%
Silver
25.11
+0.3%
Brent Crude
86.89
+1.8%
Top 40
66,252
0.0%
All Share
72,431
0.0%
Resource 10
53,317
0.0%
Industrial 25
100,473
0.0%
Financial 15
16,622
0.0%
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