JOHANNESBURG, March 28 (Reuters) - South Africa's rand
strengthened against the dollar in early trade on Tuesday after
efforts by regulators to allay fears over the global banking
system fuelled risk appetite.
At 0642 GMT, the risk-sensitive rand traded at
18.2900 against the dollar, 0.16% stronger than its previous
close.
The dollar index , which measures the currency against
six rivals, was last trading down 0.07% at 102.68.
"We are seeing a slight relief rally in markets as the
concerns over the banking system ease. The rand is … firmer this
morning as risk-sensitive currencies recover some lost ground,"
said Andre Cilliers, currency strategist at TreasuryONE.
No major local economic data is expected until Thursday when
investors are likely to turn their focus to the central bank's
interest rate decision, with markets expecting a 25-basis-point
hike.
The government's benchmark 2030 bond was
marginally strong in early deals, with the yield down 1 basis
point to 9.915%.
(Reporting by Bhargav Acharya; Editing by Sherry
Jacob-Phillips)
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