• Without prejudice

    We all need to fight the ugly bigotry that’s made news recently, says Mandi Smallhorne.

  • Inside Labour

    The Davos extravaganza is slick PR and no UN-style institution, says Terry Bell.

  • 2015 Gadget preview

    Arthur Goldstuck presents gadgets to connect 2015 to the past and future.

Loading...
See More

Rand flat ahead of MPC announcement

Jan 21 2013 12:30 I-Net Bridge
Rands

(File) (Shutterstock)

Related Articles

Weaker rand weighs on bond market

Rand weakens on farmworker strikes

Rand strengthens on stronger euro

Rand gains as Amplats workers resume duty

Mines keep pressure on rand

Rand seen weaker on mining sector fears

 
Johannesburg – The domestic currency market was little changed at midday on Monday‚ in anticipation of the monetary policy committee (MPC) announcement later this week.

“We expect that the MPC will keep rates on hold this week‚ leaving the repo unchanged at 5.0%‚” said Standard Bank economist Bruce Donald in a note. ”No move by the MPC should be viewed as currency market supportive‚” he said.

At 11:19‚ the rand was bid at R8.8799/$ from R8.8757 at Friday’s close. The local currency was bid at R11.8185/€ from its previous close of R11.8247 and at R14.0889 against sterling from R14.0576 before.

The euro was bid at $1.3324 from Friday’s close of $1.3316.

“Although the Reserve Bank does not target the exchange rate‚ neither via direct intervention nor interest rate adjustments‚ it is mindful of the prevailing fragility in the balance of payments‚” said Donald. 

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

rand  |  currencies

 

Latest Articles

15 Investment Tips for 2015 Read More...
Tax-free saving accounts are coming Read More...
Which generator is right for you? Read More...
5 top tips to help you save on your next grocery bill Read More...
 
 

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

Money Clinic

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