The south african rand
#RandReport: Rand recoups losses as Gordhan fears subside
The unit has clawed back more than 3% in value against the greenback since sliding around 4% last Tuesday.
The rand traded at R14.02 against the dollar, barely moving from Tuesday’s New York close of R14.03.
On Monday the rand reached its lowest level ever against the dollar of 14.01.
The rand inched lower against the US Dollar on Friday with global sentiment hit by China’s deteriorating growth prospects. On Monday, the rand hit its lowest-ever mark against the dollar, briefly touching R14 to one US$.
The rand reached 20.85 to the pound, 13.27 to the US dollar & 15.22 against the euro.
SA lost R16.8 billion in Q4 of 2014 to foreign portfolio outflows.
The rand firmed late on Friday as falling US import prices capped a dollar bullrun.
By 1600 GMT the local unit had weakened 2,04 percent to 11,5030 per dollar.
At 1617 GMT the rand traded at 11.5300 to the greenback, up 0.41 percent from Wednesday’s close.
The rand recovered some ground against the dollar after a heavy sell-off in the previous session.
The latest blow to Africa’s most advanced, but struggling, economy was softened the fuel price drop.
The rand edged slightly firmer against the dollar on Thursday after a surprise expansion in mining.
The unit fell as far back as 11.0900 in early trade, a level last touched on 20 October.
Investors fretted about weak global growth prospects and the domestic budget deficit.
South African stocks extended their winning run to a fourth straight session on Thursday.
Risk appetite dissipated along with escalating tensions between Ukraine and Russia.
The rand was down 0.91 percent at 10.7500 per dollar, just shy of a two-week low of 10.7700.
Domestic trade data showed the deficit had shrunk to R190 million in June from R7.44 billion in May.
Geopolitical tensions in the Middle East and Ukraine undermined demand for risky assets.