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At 16:17, the rand was bid at R8.2191 to the dollar from Tuesday’s close of R8.1892 and Monday’s close of R8.1491. It was bid at R10.0860 to the euro from its previous close of R10.0902 and at R12.8699 against sterling from R12.8354 before.
The euro was bid at $1.2266 from $1.2320.
SA’s retail trade sales rose more than expected by 8.3% in June from the same period a year a ago‚ after a revised 7.1% (6.4%) growth in May‚ Statistics SA showed.
“It appears that the consumer has remained resilient for longer than we had expected‚ notwithstanding a contradictory signal from the BER’s consumer confidence index in the second quarter 2012. There has been a fair amount of noise in the data arising from the timing of public holidays in 2012 versus 2011 even though Statistics SA has made adjustments in the seasonally adjusted data‚” Standard Bank said in a note.
