Money SA economy
The rand was a fraction softer in afternoon trade on Friday tracking the euro, ahead of crucial EU bank stress test results.
At 3.28pm local time the rand was bid at R7.45 to the dollar, R9.54 to the euro and R11.46 to the pound. The euro was bid at $1.2813 from $1.2917 overnight.
A local dealer said: "The rand has come off its earlier gains tracking a weaker euro, but it is nothing to get excited about as we wait for the results of bank stress test results in Europe."
Dow Jones Newswires reports the euro is steady Friday after giving back its overnight gains against the dollar as investors await the results of stress tests for European banks, due at noon ET.
The tests, which gauge whether Europe's banking sector has sufficient capital, are the day's biggest event, and the outcome could determine the directions of the euro as well as the dollar next week, said analysts.
