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Rand slightly firmer in lack-lustre trade

25 Sep 2013

The rand was marginally firmer against the dollar in quiet trade on Wednesday (25 September) being bid at R9.8408 to the dollar‚ compared with R9.8684 at Monday's close.

Against the euro‚ the rand was bid at R13.2905 from its previous close of R13.2910 and at R15.7402 against sterling from R15.7828 at its previous close.

The euro was bid at US$1.3508 compared with US$1.3471 at Monday's close.

"Be on the lookout for the dollar versus the rand to edge towards‚ and even break‚ the topside of the tight range between R9.82/$ and R9.90/$ that has been traded so far this week‚" RMB noted.

"The euro is trading at about R13.30 against the rand‚ but is not facing quite as much upside pressure," the bank said.

Source: I-Net Bridge

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