South Africa's rand steady in quiet trade

The South African rand was steady against major currencies late on Friday afternoon in quiet trade. The local unit spent the day on consolidating following a rally late on Thursday afternoon.

At 3:45 p.m. local time (1345 GMT), the rand was bid at 7.2092 per U.S. dollar from an overnight close of 7.2271 on Thursday and 7.3053 on Wednesday.

It was bid at 9.2765 to the euro from a previous 9.2970 and Wednesday's 9.3302 and at 13.8124 against sterling from a close of 13.7790 on Thursday and 13.8124 on Wednesday.

The rand is expected to trade in a 7.20 to 7.25 range going into the weekend.

Source: Xinhua