The rand remained firmer late on Monday as it recovered some lost value in the wake of Brexit and as money inflows into local bonds and equities provided support.

At 3.28pm‚ the rand was at R14.5265 to the dollar from R14.6090 at the previous close.

It was at R16.1685 against the euro from R16.2489 previously‚ and at R19.2623 against the pound from R19.3330 previously.

The euro was at $1.1131‚ from $1.1134 at the previous close.

Bidvest Bank analysts said there had been a fairly “significant reversal” in the rand’s fortunes since the initial weakening following the Brexit outcome.

Meanwhile‚ Nedbank economists said that following post-Brexit weakness‚ the rand firmed to R14.56‚ R16.20 and R19.31 against the dollar‚ euro and pound respectively on Friday‚ from R14.91‚ R16.57 and R20.31 at the previous week’s close.

The rand had also gained against most emerging-market currencies at the end of last week‚ up 7.6%‚ 3%‚ 2.5%‚ 1.5%‚ 0.5%‚ 3.4%‚ 2.5%‚ 0.5% and 2.5% against the Argentinian peso‚ Czech krona‚ Indian rupee‚ Indonesian rupiah‚ Korean won‚ Philippine peso‚ Thai baht‚ Malaysian ringgit and Singapore dollar‚ the economists said.