Money SA economy
The South African rand was a fraction firmer in midday trade on Wednesday, shrugging off a softer euro to remain in a tight range.
At 11.37am the rand was bid at R7.32 to the dollar, R9.79 to the euro and R10.95 to the pound. The euro was bid at $1.3381 from $1.3468 previously.
A local trader said: "Trade is similar to yesterday, in a range of 7.30 - 7.40 against the dollar. The euro is taking a beating, but the rand seems to be ignoring that, along with other emerging markets.
"There is still some data out later in the US and Europe, so we will keep an eye on that."
Dow Jones Newswires reported that in the European foreign exchanges, the euro remained under pressure despite talk of a joint EU/IMF bailout for Greece and the strong PMI and Ifo data.
Earlier Dow Jones Newswires noted that the euro may fall further for the rest of the week, dealers said, because European Union leaders' opposing views on a financial aid package for Greece are keeping investors on the edge.
