Data provided by McGregor BFA
All data is delayed
Loading...
See More

Rand gains on possible US cliff solution

Dec 27 2012 16:50 I-Net Bridge
Rand notes

(Picture: Shutterstock )

Related Articles

Optimism on US budget boosts rand

Rand little changed as markets shut down

Rand little changed in quiet trade

Rand extends losses on US fiscal concerns

Rand weakens as risk appetite sours

Rand steady in very thin holiday trade

 
Johannesburg – The rand gained ground in late trade on Thursday on a firmer euro due to the prospect of the US averting the fiscal cliff before year-end. Such a resolution would lead to risk on trade and would help the rand gain further value.

“The rand is a bit stronger due to a firmer euro‚ amid thin and quiet trade and low volumes seen. We will continue trading in the R8.45 to R8.60 range until there is a clear idea of how US politicians are going to resolve the cliff issue‚” a local trader said.

At 3:42‚ the rand was bid at R8.4991/$ from its previous close of R8.5657/$.

The local currency was bid at R11.2853/€ from its previous close of R11.3265/€ and at R13.7395 against sterling from R13.8039 before.

The euro was bid at $1.3277 from its overnight close of $1.3227.

The US‚ the world’s biggest economy‚ has a year-end deadline to avert the US fiscal crisis of spending cuts and tax hikes worth billions of dollars‚ which analysts believe could tip the country into recession.

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
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

'Zuma's legacy will be judged by Nkandla'

The legacy of President Jacob Zuma is contingent on how he deals with the issue of upgrades to his Nkandla homestead, says Cape Town Archbishop Thabo Makgoba.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

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