JOHANNESBURG, SOUTH AFRICA Oct 09 2008 18:31 Improved risk appetite in global markets helped South Africa's rand to firm against the dollar on Thursday despite interest rates being held at 12%, while mining shares boosted local stocks. The rand was trading at nine against the dollar at 3.50pm GMT, about 2,6% stronger than its last New York close of 9,24, off its session high of 8,9195 and well away from the near seven-year low of 9,45 hit on Wednesday. Analysts said the return of some calm in global markets was the main driver for currency markets. "We do not expect the decision to have a visible impact on the rand," said Alvise Marino, emerging market economist at IDEAGlobal. "The [foreign exchange] market is focused almost exclusively on risk appetite, piled up in the emerging market-bearish bandwagon." South Africa's...
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