South Africa's rand firmer on bets U.S. rates won't rise soon

by Reuters 0

Burundi faces foreign exchange shortage as aid dries up

South Africa’s rand ticked higher against the dollar on Thursday, after overnight comments from the Federal Reserve left some investors speculating that U.S. rates might not rise this year.

* At 0700 GMT the rand up 0.34 percent to 14.2090 compared with Wednesday’s New York close.

* Federal Reserve stops short of signalling a near-term rate rise. 

* Rand caught in 14.2-14.5 range, could next target 14.1700/dollar.

* Local bourse opens mostly flat; blue chip stock index down 0.22 percent, all-share dips 0.05 percent.

* Government bonds gain, yield on 2026 benchmark down 4 basis points to 8.71 percent.


(Reporting by Stella Mapenzauswa; Editing by Joe Brock)