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The rand gained early yesterday, as gold prices climbed to an eight-month high on safe-haven demand amid heightened tensions between Russia and the West over Ukraine.
At 0610 GMT, the rand traded at R15,09 against the dollar, around 0,3 percent stronger than its previous close.
Gold, a key South African export, hit its highest since mid-June and was last trading up 0,4 percent as investors contemplated the implications of a possible Russian attack on Ukraine.
Also supporting the rand, the dollar dipped 0,2 percent against a basket of currencies.
The rand has been relatively resilient recently in the face of hawkish signals from the US Federal Reserve, but analysts have cautioned that could change if Russia invades Ukraine and market sentiment badly sours. — Moneyweb
Online Reporter