THE rand was slightly firmer at midday on Thursday as global markets stabilised after the post-Brexit sell-off.
Market sentiment improved as central banks committed to support market liquidity.
At 11.36am‚ the rand was at R14.7530 to the dollar from R14.7910 at the previous close.
It was at R16.4212 against the euro from R16.4490 previously‚ and at R19.8687 against the pound from R19.8922 previously.
The euro was at $1.1130, from $1.1124 at the previous close and the pound inched up 0.12% against the dollar to $1.3467.
TreasuryOne chief currency dealer Wichard Cilliers said risk appetite was "healthy for emerging-market assets and the wider commodity market".
He said that as the rand had strengthened overnight further stabilisation "in a range of R14.70-R15.00 to the dollar" could be expected, "but should the rand break the R15.00/$ level, we could see a run back to the mid R15.20s", he said.
Picture: GALLO IMAGES/FOTO24/LOANNA HOFFMAN
THE rand was slightly firmer at midday on Thursday as global markets stabilised after the post-Brexit sell-off.
Market sentiment improved as central banks committed to support market liquidity.
At 11.36am‚ the rand was at R14.7530 to the dollar from R14.7910 at the previous close.
It was at R16.4212 against the euro from R16.4490 previously‚ and at R19.8687 against the pound from R19.8922 previously.
The euro was at $1.1130, from $1.1124 at the previous close and the pound inched up 0.12% against the dollar to $1.3467.
TreasuryOne chief currency dealer Wichard Cilliers said risk appetite was "healthy for emerging-market assets and the wider commodity market".
He said that as the rand had strengthened overnight further stabilisation "in a range of R14.70-R15.00 to the dollar" could be expected, "but should the rand break the R15.00/$ level, we could see a run back to the mid R15.20s", he said.
