Share

Rand firmer against the greenback

Johannesburg - The rand was slightly firmer against the dollar on Friday despite broader weakness in emerging markets but could face risks from inflation and retail sales data next week.

The rand was at R10.7550/$ at 14:51 GMT, up 0.5% from Thursday's New York close and has traded in a narrow R10.7170/$ to R10.8350/$ range through the day.

Next week's February CPI data and January retail sales data  has the potential to underscore the rand's relative fragility and the limitations on the bank's policy, said ETM market analyst Sean McCalgan.

The data "will probably confirm the policy dilemma that's facing the South African Reserve Bank," he said, adding that constraints on "its ability to hike rates meaningfully ... could be a fundamental negative for the rand."

The yield on the 2026 government bond edged down 2 basis points to 8.53% while that on the 2015 paper declined 12 basis points to 6.895%.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.91
+0.1%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.13
+0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders