Money SA economy
The rand was little changed from its overnight levels in morning trade on Friday, hovering below R7.25 against the dollar ahead of US non-farm payrolls data out later.
At 8.51am local time the rand was bid at R7.24 to the dollar, R9.54 to the euro and R11.51 to the pound. It was bid at R9.5481/€ to the euro from R9.5430/€ before and at R11.5100/£ from 11.4973/£ at its previous close. The euro was bid at $1.3197 from $1.3179 overnight.
A local dealer said: "It’s all quiet ahead of US nonfarm payrolls data due later, which should provide some direction. We should see some movement this afternoon, and then it's the long weekend," he said referring to the National Women's Day, a public holiday on Monday.
Meanwhile, Dow Jones Newswires reported that the euro was higher against the dollar due to a knock-on effect of a gain in the Australian dollar, which was fuelled by a somewhat hawkish statement from the Reserve Bank of Australia, dealers said.
