THE rand held onto some of its recent gains at midday on Friday, after rallying in the aftermath of central banks keeping their interest-rates stable during the week.The South African Reserve Bank decided to keep the repo rate unchanged at 7% on Thursday, with the prime rate also staying put at 10.5%.The US Federal Reserve also kept its interest rates on hold on Wednesday.Profit-taking in the currency market is not ruled out on Friday ahead of the weekend, after recent rallies.At 11.29am, the rand was at R13.5772 to the dollar from Thursday’s R13.6514. It was at R15.2174 to the euro from R15.3008, and R17.6640 to the pound from R17.8545.The euro was at $1.1208 from $1.1209 previously.After the significant anticipation from the markets regarding the various central bank meetings over this week, markets appear somewhat fatigued, Nedbank Corporate and Investment Banking (CIB) analysts said.The local monetary policy committee left rates unchanged but alluded to the vulnerability of the ...
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