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JOHANNESBURG — South Africa’s rand held firm against the dollar early on Thursday, building on its previous-session strength ahead of trade and producer price inflation figures. At 0646 the rand was trading at 12,5200 to the dollar.
The rand rallied on Wednesday as the greenback lost gains after lower-than-expected US GDP numbers and an ease in worries about Italy’s political turmoil.
Producer Price Inflation figures for April and trade balance data are due at 0930 GMT and 1200 GMT respectively. The yield on the benchmark government bond due in 2026 was down 3,5 basis points to 8,505 percent.
The Johannesburg Stock Exchange opened firmly on the front foot, with the Top-40 index up 1 percent soon after the bell. — Reuters
Online Reporter