JOHANNESBURG, Nov 7 Reuters South Africa39;s rand recouped some losses on Thursday, a day after emerging market assets took a hit following Donald Trump39;s win in the U.S. election.
At 0820 GMT, the rand traded at 17.5175 against the dollar , over 0.7 stronger than its previous close. The local currency fell about 2.5 against the greenback at one point on Wednesday amid volatile trading.
The dollar slipped from a fourmonth high and was last down 0.3 against a basket of currencies, ahead of an interest rate decision by the Federal Reserve later in the day.
The Fed is expected to reduce rates by 25 basis points, while market focus will also be on further clues from the U.S. central bank on the way forward.
Locally, data released by South Africa39;s central bank earlier showed the country39;s net foreign reserves rose to 61.197 billion at the end of October from 61.029 billion in September.
On the stock market, the Top40 index was last up 0.7.
South Africa39;s benchmark 2030 government bond was stronger, with the yield down 10 basis points to 9.3.
Reporting by Bhargav Acharya Editing by Christina Fincher
Source Reuters