The rand, which has tracked turmoil in global markets, is seen settling slightly this week as knee-jerk reactions subside and dealers wait for more clues on the global growth picture.

By 0617 GMT the rand was at 7.1945, mostly steady against the dollar and off a close of 7.2025 in New York.

An auction that closes at 0900 GMT is seen as weighing on the market as traders brace for the extra supply.

Copyright Reuters, 2011