Money SA economy
The rand maintained its strong showing in midday play on Friday amid a continued strong inflow of offshore bonds, according to a local trader.
At 11.34am local time the rand was bid at R7.22 to the dollar, R9.28 to the euro and R11.28 to the pound. The euro was bid at $1.2844 from $1.2828 overnight.
A local trader said: "It is the same story as yesterday, bond inflows are keeping the rand strong." He said eyes would turn to important US economic data, including retail sales, consumer prices and consumer confidence, out later on Friday.
Dow Jones Newswires reports that the euro gained slightly at the expense of the dollar on Friday as strong German and euro zone growth data helped to lift some of the recent gloom. However, risk appetite remains weak as investors wait to see whether US economic data, including retail sales, consumer prices and consumer confidence, live up to expectations.
The euro attracted some support on Friday as Asian stock markets and European bourses posted gains, indicating an improvement in appetite for risk across the globe.
