South African rand gains in volatile holiday trade

JOHANNESBURG: The South African rand gained in volatile holiday-thinned trade on Friday after posting losses for the previous two days.

The rand traded at 18.66 against the dollar at 0730 GMT, about 1.1% stronger than its previous close.

The currency lost about 1% against the dollar over Wednesday and Thursday, the Christmas Day and Boxing Day public holidays.

South African rand sees tailwind from local inflation and retail data

The Johannesburg Stock Exchange’s Top-40 index was little changed.

The benchmark 2030 government bond was marginally firmer, with the yield down 1.5 basis points at 9.025%.