At 12.29pm the rand was bid at R8.2613 to the dollar from Thursday’s close of R8.3000. It was bid at R10.76 to the euro and at R13.42 against sterling.

Gold was trading at US$1774.27 per ounce.

The South African bond market was firmer in midday trade on Friday on a stronger rand.

“We are firmer due to the currency. The auction was fairly bid and did not have an impact on the rest of the market‚” a local bond trader said.

At 11.53am‚ the benchmark R157 bond was trading at 5.360 percent from 5.400 percent at Thursday’s close. The R207 was bid at 6.415 percent and offered at 6.410 percent from a close of 6.470 percent‚ and the R186 was trading at 7.430 percent from 7.510 percent at its previous close.

The National Treasury offered R800m of inflation-linked bonds (ILB) at its auction at 11am. It allotted R500m worth of I2025 bonds after receiving bids worth R510m‚ R225m worth of I2038 bonds from bids worth of R345m and R75m of I2050 bonds from bids worth R180m.