The rand was firmer against major global currencies on Wednesday shortly before midday in a thinly traded market. The local currency gained more than 1% against the dollar, pound and euro, which traders attributed to low liquidity with many traders still on holiday. At 11.30am the rand was at R13.6321 to the dollar from Tuesday’s R13.8305. It was at R14.2336 to the euro from R14.3899 and R16.7373 to the pound from R17.9239. The euro was at $1.0440‚ from $1.0404. Nedbank market commentators said the rand’s movements showed signs that it was not out of festive season mode just yet. "Liquidity remained extremely thin and erratic over the day." Standard Bank’s Warrick Butler put the rand’s movement down to low liquidity.
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