Johannesburg - The rand was range-bound in afternoon trade on Friday amid thin trade.

At 15:41 local time the rand was bid at R7.3200 to the dollar from R7.3196 at Thursday's close. It was bid at R9.5318 to the euro from R9.5660 before and at R11.4222 against the sterling from R11.4109 at its previous close.

The euro was bid at $1.3003 from $1.3077 overnight.

A local dealer said: "It's a typical end of the month market at present, with the rand in a R7.30-38 range, lacking any real direction."

The trader noted that the local currency did not react to Customs & Excise figures released on Friday

South Africa recorded a trade surplus of R5.629bn for its trade with non-Southern African Customs Union trading partners in June,
after a deficit of R302m in May and a steeper deficit of R1.889bn April.

A R1.1bn deficit had been expected, a survey by I-Net Bridge found. Forecasts among the leading economists surveyed varied from a R3bn deficit to a R0.6bn surplus.

Dow Jones Newswires reports that GDP in the US grew by 2.4% in the second quarter, slightly below the 2.5% expected by economists. Month-end trading contributed to volatile activity immediately after the data, with the euro gaining ground against the dollar and then surrendering it. The euro's inability to rally decisively reflected continued underlying concern about risk-related pressures on the common currency.

  - I-Net Bridge