• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

Rand claws back some lost ground

Nov 19 2012 19:50
I-Net Bridge
Johannesburg – The rand was on a firmer footing in late trade on Monday‚ recovering from last week’s weaker levels‚ which saw the local currency flirting with the R9/$ dollar mark. The slide was attributed‚ among other things‚ to a bout of risk aversion.

At 3.44pm‚ the rand was bid at R8.8202/$ from Friday’s close of R8.8533 and Thursday’s close of R8.9020. The local currency was bid at R11.2690/€ from its previous close of R11.2864 and at R14.0249 against sterling from R14.0642 before.

The euro was bid at $1.2767‚ from Friday’s close of $1.2759.

“We don’t think the rand is out of the woods yet‚” said Mike Keenan‚ analyst at Absa Capital. “On the domestic front‚ we still have a poor macro economic backdrop and the upcoming ANC national elective conference. Internationally‚ the looming US fiscal cliff will weigh on the currency.”
rand  |  dollar  |  euro  |  currencies

 
 
 

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
1 comment
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...