South Africa's rand seen rangebound in thin trade

JOHANNESBURG: South Africa's rand was largely flat against the dollar on Thursday as Johannesburg traders rejoined the market after a two-day holiday, with volumes seen staying low until the new year.

The local currency was at 8.57 to the greenback at 0700 GMT, barely moved from its previous close at 8.5754.

"We're not expecting anything other than thin holiday markets and the rand staying in ranges," a Johannesburg trader said.

"Things should only get going next week, after New Year."

Government bonds were slightly weaker in early trade, with the yield on the most active 14-year paper edging up a basis point to 7.235 percent.

The yield for the issue due in 2015 added 1.5 basis points to 5.315 percent.

Center>Copyright Reuters, 2012