Rand holds firm
The South African rand has remained locked in a 8.08-09 trading range against the US dollar, struggling to break out of current support levels.
South Africa's FTSE gained 0.5% in early trading this morning following corporate earning figures in the US, though we are yet to see any real benefit for rand exchange rates. The rand has been one of the best performing currencies this year against the US dollar, and equity markets have gained nearly 10% thus far.
Hotel bombings in Jakarta have increased risk aversion this morning, leading to higher exchange rates for the US dollar.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.