Money SA economy
The rand tracked global markets firmer in afternoon trade on Thursday.
At 15.37pm the rand was bid at R7.70 to the dollar from R7.77 at its previous close. It was bid at R9.31 to the euro and R11.26 to the pound. The euro was bid at $1.2097 from $1.1990 overnight.
A local trader said the rand found support amid firmer world markets, with Dow futures trading higher. "It is very quiet though," he said.
Dow Jones Newswires reports that the euro pushed modestly higher on Thursday against the dollar as strong global economic data lent credence to a global economic rebound, despite lingering problems of euro-zone sovereign debt.
The euro reacted little in the immediate aftermath of the European Central Bank's early Thursday decision to stand pat on key interest rates, but investors will listen closely to the 8.30am EDT press conference following the earlier rate announcement for any clues as to how the ECB will deal with the debt crisis.
