Loading...
See More

Optimism on US budget boosts rand

Dec 27 2012 14:36 I-Net Bridge
Rands

(File) (Shutterstock)

Related Articles

Rand steady in very thin holiday trade

Rand little changed in quiet trade

Rand extends losses on US fiscal concerns

Rand weakens as risk appetite sours

Rand softer on renewed fiscal cliff worry

Rand little changed as markets shut down

 
Johannesburg – The rand gathered strength at noon on Thursday‚ taking its lead from firmer global markets‚ amid hopes of a resolution to the looming so-called US fiscal cliff.

At 11:41‚ the rand was bid at R8.5146/$ from its previous close of R8.5657/$. The local currency was bid at R11.2960/€ from its previous close of R11.3265/€ and at R13.7592 against sterling from R13.8039 before.

The euro was bid at $1.3269 from its overnight close of $1.3227.

“There is a sense of optimism that a solution to the US fiscal crisis will be found‚ with President Barack Obama cutting short his vacation for the resumption of talks on the issue‚” said Kuziva Muganiwa‚ global markets analyst at Vunani Private Clients.

The US‚ the world’s biggest economy‚ has the year-end deadline to avert the US fiscal crisis of spending cuts and tax hikes worth billions of US dollars‚ which analysts believe could tip the country into recession.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

rand  |  markets  |  currencies
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Goalkeeper saves five penalties with his FACE!

Nothing, and we mean nothing, will keep goalkeeper Scott Stirling from stopping the ball!

 
 

Men24.com

Hottie of the day: Jesselyn
This invention makes farts smell like chocolate!
11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...