South African rand recovers to end firmer against dollar

JOHANNESBURG: South Africa's rand ended slightly firmer against the U.S. dollar on Monday, although it struggled to find momentum given the lack of market-moving news in lethargic holiday trade.

The local unit had gained 0.21 percent versus the greenback to 11.54 by 1533 GMT, staging a late advance after trading in the red for most of the session.

The rand has been on the back foot for most of this month, touching six-year lows, plagued by yawning budget and current account deficits, the worst power crisis since 2008 and a general souring in sentiment towards emerging markets.

In fixed income, the benchmark issue due in 2026 added 5 basis points to 8.00 percent.