• FULL mini budget speech

    Read the full mini budget speech delivered by Finance Minister Pravin Gordhan.

  • #FeesMustFall reporting

    What are the real issues and whose voices are being suppressed by social media, asks Solly Moeng.

  • Matchmaker businesses

    Multisided platforms can create huge value for society and fortunes for entrepreneurs, says Ian Mann.

All data is delayed
See More

Rand flat ahead of MPC announcement

Jan 21 2013 12:30
I-Net Bridge
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



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
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