Loading...
See More

Rand flat in quiet trade

Oct 30 2012 12:25 I-Net Bridge

Related Articles

Rand slightly firmer, bonds flat

Rand weakens on New York inactivity

Rand weakens on hurricane Sandy‚ credit

Rand flat due to lack of data

Rand strengthens on US GDP data

Rand stronger on positive global data

 
Johannesburg – The rand was flat in the late morning on Tuesday as a lack of volume took the shine off the Bank of Japan’s (BoJ’s) announcement of it boosting asset purchases by 11-trillion yen.

“The rand is flat due to the low volumes caused by the closure of US markets due to Hurricane Sandy. We haven’t seen the full impact of the BoJ announcement due to the US not trading. Traders expected the announcement and it has put a positive sentiment on global markets‚” said Lynden Reabow‚ an FX sales trader from PSG.

At 11:36‚ the rand was bid at R8.6742/$ from Monday’s close of R8.6753. It was bid at R11.2204 the euro from its previous close of R11.1967 and at R13.9121 against sterling from R13.9028 before.

The euro was bid at $1.2934 from Monday’s close of $1.2907.

“We are range bound at the moment. There have definitely been some domestic drivers affecting the rand‚ including the news that police had fired rubber bullets at protesting miners at Amplats. The local currency could also be taking direction from euro‚” Reabow said.
rand  |  dollar  |  euro  |  currencies
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes 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

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

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