South African rand recovers some poise after Friday bashing

South Africa's rand recovered some of its footing against the dollar on Monday after plunging to a 13-1/2 year low last week, although weak domestic fundamentals are likely to keep investors' appetite for local assets subdued. The currency received a fillip after ratings agency Fitch held off downgrading Africa's most advanced economy, as some investors had feared. At 0703 GMT the rand was trading at 12.6050 to the greenback, up 0.12 percent from its close in New York on Friday.