• Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

  • Don't fall for Ponzi scams

    An expert unpacks the tell-tale signs to watch out for.

  • Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

Loading...
See More

Rand flat after bond auction

Nov 16 2012 13:43 I-Net Bridge

Related Articles

Rand, bonds post momentary recovery

Rand weakens on US fiscal cliff fears

Rand weakens on negative sentiment

Rand firms on stronger euro

Rand weakens on Greek uncertainty

Rand weakens on commodity prices

 
Johannesburg – The rand was flat before noon after a surge in foreign purchasing in the South African bond market offered some relief for local forex traders.

“We saw a slight recovery in the local currency due to foreigners buying over R300m South African bonds‚” said Kuziva Muganiwa‚ a global market analyst from Vunani Capital.

At 11:35‚ the rand was bid at R8.8989/$ from Thursday’s close of R8.9020. The local currency was bid at R11.3293/$ from its previous close of R11.3279 and at R14.1224 against sterling from R14.0958 before.

The euro was bid at $1.2734 from Thursday’s close of $1.2729.

“The bonds purchasing was the only glimmer of hope for the local currency as the rand was still heavily weighed down by local unrest in the mining and farming industry and global fears‚” Muganiwa said.
bonds  |  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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

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

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...