JOHANNESBURG: The South African rand was slightly stronger early on Friday in thin trading conditions, as summer holiday season got under way.
At 0802 GMT, the rand traded at 15.9050 against the dollar, around 0.1% firmer than its previous close.
Analysts at ETM Analytics said liquidity was likely to remain constrained as many South Africans use the annual Dec. 16 Day of Reconciliation public holiday to kick-start their end-of-year holidays.
"As South Africa closes down for summer holidays, there are still many risks that abound that are difficult to ignore," they said in a research note, citing the rapid spread of the Omicron coronavirus variant and the possibility of renewed violence after a court ruling ordering former president Jacob Zuma back to jail among those risks.
"At current levels, clear-cut direction is somewhat lacking," they added.
The Johannesburg stock market was also firmer in early trade, with the All-share index up around 0.8%, and the yield on the government's benchmark 2030 bond was down 6.5 basis points at 9.385%.
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