South Africa's rand was softer against the dollar late on Thursday and was seen largely keeping to present ranges ahead of next week's central bank decision on interest rates.
The local unit was at 7.1776 to the dollar at around 1525 GMT, 0.2 percent off the mark of 7.1625 when the New York market closed on Wednesday.
The rand earlier firmed to a high of 7.14/dollar, with traders pointing to news that U.S.-based private equity firm Bain Capital LLC had made a 25 billion rand buyout offer for South Africa's largest fashion retailer Edgars Consolidated Stores in the country's biggest private equity deal yet.
Read more at Reuters South Africa
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment