Rand firms on repo rate call

The rand inched up in early trade yesterday after the SA Reserve Bank kept rates on hold despite a less-dovish-than-expected policy statement as well as a global retreat in other commodity-dependent currencies.

At 7.40am, the rand had firmed 0.14% to 12.9075 per dollar, slightly off the twomonth high touched in the previous session. It was trading at 12.8460 by 4pm.