A BANK TELLER LOOKS AT 50 AND 100 SOUTH AFRICAN RAND NOTES.
South African rand gains ground against softer dollar
JOHANNESBURG (Reuters) - The South African rand firmed against the dollar on Thursday after the greenback was jolted by the worst fall in U.S. stocks in nearly eight months.
The rand was 0.71 percent stronger at 14.6750 per dollar at 0650 GMT, having closed in New York at 14.7800.
The rand is expected to trade between 14.6000 and 14.9000 to the dollar on Thursday, NKC African Economics wrote in a note.
The rand had been supported by the market's favourable reaction to the appointment of Tito Mboweni as the new South African finance minister on Tuesday.
South Africa-focused investors were awaiting the release of the statistics agency's manufacturing production data for August due at 1100 GMT. Consensus expectations are for production to have risen 0.6 percent on an annual basis.
In fixed income, the yield on the benchmark government bond due in 2026 rose 3 basis points to 9.260 percent.
(Reporting by Nomvelo Chalumbira; Editing by Ed Stoddard)
© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.