• Retribution will come

    Those who now pay the price for opposing a corrupt system shall rise again, says Solly Moeng.

  • Ego - the enemy within

    Successful people are humble in their aspirations and resilient in failure, says Ian Mann.

  • You can’t eat dust

    We should insist on products that save our soil and ensure food security, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Rand firms on short covering

Jan 31 2013 12:52
I-Net Bridge
Johannesburg – The rand was firmer in midday trade on Thursday on short covering ahead of the release of December foreign trade data at 14:00.

“We have seen some short covering this morning‚ which is surprising given that the foreign trade data only comes out this afternoon‚” a local trader said.

At 11:51‚ the rand was bid at R8.9811/$ from its Wednesday close of R9.0187. It touched R9.1258 on Tuesday. 

The local currency was bid at R12.1722/€ from its previous close of R12.2313 and at R14.2043 against sterling from R14.2361 before. The euro was bid at $1.3562 from Wednesday’s close of $1.3568 and Tuesday’s close of $1.3486.

SA’s foreign trade balance with its non-Southern African Customs Union (non-Sacu) trading partners is expected to have recorded a R3.1bn deficit in December from a R7.9bn deficit in November‚ according to leading economists surveyed by I-Net Bridge.

Forecasts among seven economists ranged from a deficit of R7bn to a surplus of R3.7bn.

SA reached a record deficit of R21.2bn in October as exports came under pressure last year due to depressed global demand. 

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

rand  |  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
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

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

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote

Loading...