• Busting Uber myths

    The ehailing firm is constantly trying, succeeding - and sometimes failing, says Ian Mann.

  • Trapped in a democracy

    The very people elected to bring benefits to all are undermining SA, says Solly Moeng.

  • Marikana spectre

    Five years after the bloody massacre calls for justice are growing louder, says Terry Bell.

Loading...

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

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
1 comment
Comments have been closed for this article.
 

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.
 

Money Clinic

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

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote

Loading...