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Johannesburg - The rand regained some lost ground in late trade on Friday after sliding to 10.28/$ earlier in the session.
But dealers see further weakness in the domestic currency in the short term after worse-than-expected South African trade balance data.
SA’s foreign trade account registered a R15bn deficit in April for its trade with non-Southern African Customs Union trading partners‚ after a R7.8bn deficit in March.
At 18:00‚ the rand was bid at R10.0708/$‚ from a close of 10.0296/$ on Thursday.
The local currency was bid at R13.0610/€ from its previous close of R13.0821/€ and was at R15.2752 against sterling from R15.2757 at its previous close.
The euro was bid at $1.2978 from $1.3044 at Thursday’s close and $1.2938 at Wednesday’s close.
But dealers see further weakness in the domestic currency in the short term after worse-than-expected South African trade balance data.
SA’s foreign trade account registered a R15bn deficit in April for its trade with non-Southern African Customs Union trading partners‚ after a R7.8bn deficit in March.
At 18:00‚ the rand was bid at R10.0708/$‚ from a close of 10.0296/$ on Thursday.
The local currency was bid at R13.0610/€ from its previous close of R13.0821/€ and was at R15.2752 against sterling from R15.2757 at its previous close.
The euro was bid at $1.2978 from $1.3044 at Thursday’s close and $1.2938 at Wednesday’s close.
