Rand firms slightly on dollar, awaits budget

South Africa's rand gained modestly against the dollar on Wednesday morning in a session seen largely quiet ahead of the 2007/08 national budget later in the day.

The rand was at 7.1165 against the dollar at 0645 GMT compared to its New York close of 7.1225 on Tuesday.

"The rand is trading very quietly, it looks like we'll settle in yesterday's ranges and wait to see if there are any surprises in the budget," said Rand Merchant Bank trader Jim Bryson.
"The budget has not really moved the rand over the last couple of years so we are not really expecting much," he added.

The market, however, would be keen to see if Finance Minister Trevor Manuel announced any changes to foreign exchange regulations and taxes on foreign investment in his speech to parliament due to start at 1200 GMT.

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Rand a touch weaker, watches US figures

South Africa's rand eased a bit against the dollar early on Friday, and traders expected it to track a 10-cent range ahead of U.S. employment data later in the day.
The rand was at 7.1830 versus the greenback at 0845 GMT, slightly off levels of 7.1601/dollar when New York closed on Thursday.

"The rand is still very much in ranges and really looking like we are going to move in ranges ahead of U.S. non-farm payrolls today," said Rand Merchant Bank trader Jim Bryson.
"We will go with something in the region of 7.16/21, and then we will follow the euro after non-farms," he added.

Read more at Reuters South Africa