The US and Iran exchanged fire on Thursday in the ​most serious test yet of their ​month-long ceasefire, but Iran said the situation returned ⁠to normal while the US said it ​did not want to escalate.

The ​Rand traded at 16.4425 against the Dollar, about 0.4% stronger than its previous close.

The greenback last traded weaker ​against a basket of currencies.

Traders awaited the ​monthly US employment report due later in the day ‌to ⁠assess future monetary policy path.

SA’s net foreign reserves rose to $73.76 billion at the end of April from $73.19 billion in March, Central bank data ​showed on ​Friday.

Nedbank economists ⁠had projected the country’s international liquidity position to rise by a ​modest $73.57 billion, supported by lower receipts ​of ⁠foreign deposits.

On the Johannesburg Stock Exchange, Top 40 index was last down 1.5%.

SA’s benchmark 2035 ⁠government ​bond was also weaker in ​early deals, as the yield rose 7.5 basis points to ​8.65%.

–Reuters–